$XRP Futures Debut on CME Group with $19M in First-Day Trading, Surpassing Solana's Launch
CME Group, the largest derivatives exchange in the U.S., has launched XRP futures, marking its fourth cryptocurrency offering after Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) futures. Trading began on Sunday, with over $19 million in notional volume recorded on the first day, the company announced Tuesday—outperforming Solana’s debut, which saw $12.3 million in first-day volume back in March.
The newly listed XRP futures contracts are cash-settled and tied to the CME CF XRP-Dollar Reference Rate. They are available in two sizes:
Micro contracts (2,500 XRP)
Standard contracts (50,000 XRP)
> "The addition of XRP and Micro XRP futures to our leading, regulated cryptocurrency suite will provide investors with the deeply liquid, capital-efficient tools they need to support their growing cryptocurrency investment and hedging strategies," said Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products.
Institutional Appetite for Altcoins Grows
This launch follows continued interest in altcoins among institutional investors, despite recent SEC delays on spot ETF decisions for both XRP and SOL. By comparison, Bitcoin futures launched on CME in December 2017 with $102.7 million in first-day trading volume, while Ethereum futures saw $31 million upon their debut in February 2021.
The first XRP futures trade was cleared by Hidden Road, a key player in the institutional digital asset space.
> "This is a significant milestone for Hidden Road and for the institutional adoption of digital assets—especially in expanding liquidity and enhancing risk management around XRP," said Noel Kimmel, President and CEO of Hidden Road’s Futures Commission Merchant.
As of the latest data, XRP is trading at $2.35, down 0.76% over the past 24 hours, according to The Block.