US CME Launches XRP Futures Trading, $45 Million Traded in First Three Days

The Chicago Mercantile Exchange (CME) in the United States has listed XRP futures products, expanding altcoin derivatives. In the first three days of trading, approximately $33 million (about 45 billion KRW) in trading volume was recorded, capturing the initial response of institutional demand.

According to Crypto Valley Journal, a cryptocurrency specialist media outlet, CME launched XRP futures on the 20th (local time). The trading volume of XRP futures recorded $19 million on the first day, and the cumulative trading volume exceeded $33 million over the next two days. This is similar to the initial response of the Solana (SOL) futures product listed last March.

CME is the largest derivatives exchange in the United States, and XRP futures are the third major cryptocurrency-based product following Bitcoin and Ethereum. The product is traded based on the CME certified price index and consists of two types: standard and micro contracts. Institutional investor Hidden Road executed the first block trade.

The media added, "There is speculation in the market that the listing of XRP futures could be a pre-stage to spot ETF approval." Previously, Bitcoin and Ethereum also had spot ETFs approved after futures products were listed. The approval decision for Solana and XRP-based ETFs is expected in October, and some management companies are also anticipating early approval.