futures officially began trading on the CME Group’s derivatives platform, marking a significant step for institutional adoption of the token. The first day saw a total trading volume of approximately $1.5 million—an encouraging start that reflects growing interest in XRP-based financial products.
According to early data from CME, four standard contracts (each representing 50,000 XRP) were traded, generating around $480,000 in notional volume at an average price of $2.40. The bulk of activity, however, came from 106 micro contracts (each representing 2,500 XRP), which contributed over $1 million in volume.
These futures contracts are cash-settled and based on the CME CF XRP Dollar Reference Rate, published daily at 4:00 P.M. London time. CME’s dual-contract setup standard and microis strategically designed to attract both large institutional investors and smaller traders, offering flexibility for a variety of trading and hedging strategies.
Ripple CEO Brad Garlinghouse highlighted the milestone on X (formerly Twitter), stating, “The launch of regulated XRP futures on @CMEGroup marks a key institutional milestone for XRP $XRP .” He also noted that Hidden Road executed the first block trade.
This launch comes on the heels of the CFTC officially classifying XRP as a commodity, a regulatory shift that opened the door for CME to list these contracts.
Analysts believe this development could pave the way for a spot XRP ETF. Nate Geraci, president of The ETF Store, commented that such a product is likely “only a matter of time.”
While the initial trading volume might appear modest, XRP's $XRP listing on CME enhances the token’s market profile, especially in terms of institutional price discovery. Similar to how BTC and ETH #ETH futures influence broader price action, XRP futures could bring new dynamics to the market as participation grows.