XRP Futures, 46% of Trading Volume Occurs Outside U.S. Hours…CME Says 'Global Demand Confirmed'
Summary
- XRP futures launched by the Chicago Mercantile Exchange (CME) saw 4,032 trades and approximately $86.6 million in trading volume over six sessions.
- A total of 46% of the trading volume occurred outside of U.S. trading hours, and half of the participants were based outside the U.S.
- This product allows investors to gain exposure to XRP without holding the actual asset, confirming global investor demand according to CME.
According to analysis, the XRP futures product launched by the Chicago Mercantile Exchange (CME) is showing active trading momentum among global investors.
According to CoinDesk, a digital asset (cryptocurrency) media outlet, a total of 4,032 contracts had been traded over six sessions since CME launched the XRP futures last week. The trading volume reportedly reached approximately $86.6 million.
Notably, 46% of trading volume occurred outside of U.S. hours, and about half of the participants were based outside the U.S. as well.
The futures product consists of a standard contract (50,000 XRP per contract) and a micro contract (2,500 XRP per contract). Investors can gain exposure without holding actual XRP.
A CME spokesperson stated, "The fact that nearly half the early activity in the XRP futures market comprises non-U.S. participants and non-U.S. trading hours indicates that XRP is functioning as a global asset."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
