tl;dr
XRP futures trading on CME Group launched on May 19, reaching a combined notional volume of approximately $25.6 million in its first two days, marking a strong debut compared to other altcoins. The futures contracts, available in standard and micro sizes, are cash-settled and closely track XRP’s spo...
XRP futures trading on CME Group launched on May 19, achieving a strong debut with a combined notional volume of approximately $25.6 million in its first two days. This performance surpasses other altcoin futures debuts at CME, including Solana, Bitcoin, and Ethereum, highlighting significant institutional interest in XRP.
The futures contracts, available in standard (50,000 XRP) and micro (2,500 XRP) sizes, are cash-settled and closely track XRP’s spot price, which is around $2.39. This close peg to the spot price indicates market participants expect short-term price stability, with no clear bullish or bearish sentiment dominating the futures market yet.
On May 19, 120 standard and 206 micro contracts were traded, totaling around 6.5 million XRP. On May 20, an additional 59 standard and 485 micro contracts were exchanged, adding roughly 4.1 million XRP. Combining these volumes with the current market price yields the $25.6 million notional volume figure.
The strong debut reflects growing regulatory clarity surrounding Ripple and increasing institutional engagement with XRP, opening up regulated avenues for exposure to the cryptocurrency. Despite this, XRP’s spot price has dipped 7% over the past week, holding below the $2.50 mark.
CME’s XRP futures are settled based on the CME CF XRP-Dollar Reference Rate updated daily, ensuring futures prices mirror the spot market without significant premiums or discounts. This structure suggests traders are using the contracts more often for hedging than speculation at this stage.
Compared to other CME altcoin futures debuts, XRP’s launch is notably more robust. Solana futures saw a first-day notional volume of $12.3 million in March 2025, while Bitcoin and Ethereum futures had more modest beginnings before evolving into institutional mainstays.
Overall, the successful launch of XRP futures on CME Group marks a pivotal moment for regulated cryptocurrency derivatives, signaling expanding institutional confidence and an evolving landscape for XRP investment.