XRP futures began trading on the Chicago Mercantile Exchange's (CME) derivatives platform on Monday, marking the first regulated futures tracking XRP's price in the U.S. Traders can trade two contract sizes: 2,500 XRP and 50,000 XRP, cash-settled and based on the SME CF XRP-Dollar Reference Rate, tracking XRP's price daily at 4:00 p.m. London time.
CME already offers Bitcoin, Ethereum, and Solana futures, plus Bitcoin and Ethereum options. Solana futures, launched in mid-March, recorded only $12.3 million in notional daily volume on day one and closed with $7.8 million in open interest. XRP's price decreased by 3.45% over the past 24 hours.
Regulated futures could significantly advance a spot XRP exchange-traded fund, currently under SEC review. ETF Store President Nate Geraci noted on X that CFTC-regulated XRP contracts make spot XRP ETFs seem inevitable. The former SEC, under Chair Gary Gensler, cited existing regulated futures markets as a reason for approving spot Bitcoin and Ethereum ETFs.
This article is based on our author's analysis of materials taken from the following resource: www.coindesk.com.