CME Sets New XRP Futures Volume Record at $235 Million Daily

XRP futures daily trading on the Chicago Mercantile Exchange reached $235 million, setting a new daily record since the contracts launched in May. The figure represents combined trading in standard and micro contracts.

More than 9,100 contracts changed hands, including 1,245 standard futures and 7,869 micro futures. The trading covered over 82 million XRP tokens. Micro contract trading hit a new high that day.

Standard contracts represent 50,000 XRP each, while micro futures cover 2,500 XRP. The two contract sizes accommodate different types of traders, from large asset managers to smaller trading firms.

Total trading volume since the market launched on May 19 has reached $1.6 billion. The contracts are cash-settled against CME’s XRP-Dollar Reference Rate, which aggregates prices from spot exchanges.

CME Group operates one of the world’s largest derivatives exchanges, providing centralized clearing and regulatory oversight. It launched Bitcoin futures in 2017 and Ether futures in 2021. XRP futures extended regulated offerings to payments-focused digital assets, attracting institutional investors seeking exposure without holding the token directly. 

Robinhood added micro XRP futures to its trading app last month, giving retail investors access to the derivatives market. The platform previously offered limited crypto derivatives options.

Trading activity in XRP futures may increase as regulatory clarity develops. Ripple’s banking license application and MiCA approval process could influence institutional participation in the derivatives market.