CME Group has officially launched XRP futures trading in the United States, putting an end to long-standing speculation. The company said the offering began on Sunday, May 18, and recorded over $19 million in notional trading volume on its first day.
It noted that the first trade was completed as a block deal by Hidden Road, a global credit network. According to the update, the recent development shows growing interest from institutional investors in expanding into assets like XRP.
CME Group said the move could also influence future discussions around the possible approval of a spot XRP exchange-traded fund. The firm pointed out that the idea of such a fund has been considered for some time in U.S. financial circles.
CME Launches Cash-Settled XRP Futures
CME stated that the new XRP futures are cash-settled and based on the CME CF XRP-Dollar Reference Rate. The company said this rate measures XRP’s value in U.S. dollars once a day at 4:00 p.m. London time. The contracts are available in two sizes: 2,500 XRP and 50,000 XRP. This range is aimed at meeting different institutional trading needs.
Hidden Road said the first XRP futures trade it executed reflects a shift in digital asset infrastructure. The company explained that institutional investors now have more options to manage XRP exposure in a regulated setting. Its role in this first trade shows how active it is in today’s changing crypto market. The firm remains focused on improving access to digital assets.
CME Group said it already offers futures for Bitcoin, Ethereum, and Solana, but XRP’s launch kicked off with more momentum. The company explained that Solana futures launched in March with $12.3 million traded on day one, while XRP futures saw over $19 million. According to reports, more investors are now looking at these tools.
Traders Seek Regulated Crypto Tools
Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, said more traders are turning to regulated digital tools because the market is evolving fast.
He explained that investors want better ways to manage risk across different cryptocurrencies. XRP is gaining attention because of its strong backing from the community and institutions. Vicioso said this trend is having an impact on crypto trading.
XRP’s spot price dropped by 3.45% in the past 24 hours, even after the futures launch. Market analysts said the decline reflects general trends in the crypto space, not a direct response to the new product. The firm explained that price swings like this are common when new offerings enter a volatile market.
Industry experts said launching a regulated futures market may improve the chances of getting approval for an XRP spot ETF. While the U.S. Securities and Exchange Commission has not approved any XRP ETF yet, similar moves with Bitcoin and Ethereum were helped by active futures trading. According to the update, regulation often plays a key role in these approvals.