CME’s Nascent XRP Futures Market grows rapidly as sophisticated investors are attracting the payment -focused cryptocurrency.
Together, the standard and micro futures registered a total trading volume of $ 235 million on Friday, the highest recorded. The tally takes a combined trade from the start of May 19 to $ 1.6 billion, according to CME’s active trader data.
“The record emphasizes rapidly growing demand in our new XRP Futures suite,” active businessman said X..
CME is a preferred place for institutions seeking to obtain exposure to digital assets through regulated derivatives while avoiding direct token -owner. CME futures tied to Bitcoin and Ether are widely considered a proxy for institutional activity.
XRP contracts are in size of 50,000 XRP and micro contracts to 2,500 XRP.
Ripple, which uses XRP to facilitate cross-border transactions, has applied for a banking license in the US and reportedly interested In obtaining a market in crypto assets (Mica) license to expand in the European Union.
