XRP futures contracts with the Chicago Mercantile Exchange (CME) recorded more than $ 19 million in a notional trading volume on their first day and at least $ 10 million on Tuesday, data shows.
The inaugural trade, a transaction on the block, was that the Hidden Road was closed on May 18. CME’s XRP futures are available in two sizes: standard contracts representing 50,000 XRP and micro contracts representing 2,500 XRP. Both cash-settle and benchmarked with the CME CF XRP-dollar reference rate, calculated daily at 15:00 UTC.
The standard contracts raised 7.5 million XRP on Monday and 2.95 million XRP on Tuesday, while micro contracts were 517,000 XRP on Monday and at least 1.2 million XRP on Tuesday.
Market participants see the launch of regulated contracts with futures as a step toward the potential approval of an area exchanged by the XRP Exchange (ETF) fund in the United States.
“The spot XRP ETFS is just an hour,” Nate Geraci, president of the ETF store, said in an X post Monday.
Despite the strong debut of futures contracts, the price of the XRP area remained relatively stable, trading around $ 2.38, with a slight increase of 0.42% over the past 24 hours.
