CME XRP Futures Soar Amid ETF Approval Buzz
CME XRP Futures See Record Activity in July
CME Group reported a surge in its XRP futures products during July, with trading volumes and open interest reaching new peaks. This increase coincides with growing anticipation of a potential XRP exchange-traded fund (ETF) approval in the United States.
Institutional and Retail Demand Fuels XRP Futures Surge
CME detailed the performance of its XRP futures in a recent announcement, noting significant milestones:
- July 18: 14,612 Micro XRP contracts traded, totaling $126 million in notional volume.
- July 22: Open interest in Micro XRP futures reached 4,812 contracts, valued at $43 million, signaling increased long-term positioning.
- July 23: Full-sized XRP contracts hit 4,765, with a notional value of $775 million.
- July 24: Open interest in standard XRP futures reached a high of 4,766 contracts, or $788 million.
The consistent rise in both volume and open interest indicates strong engagement from institutional and retail traders. CME emphasized the regulated and resilient nature of its XRP futures suite, highlighting its readiness for increased crypto derivatives activity.
ETF Speculation Drives Futures Momentum
The surge in XRP futures trading volume is linked to speculation about the potential approval of a Ripple ETF. Market analysts suggest growing interest in regulated XRP exposure, possibly influenced by rumors of BlackRock considering an XRP ETF application.
Prediction markets, such as Polymarket, now indicate an 86% probability of a Ripple ETF being approved before the end of 2025, a 15% increase in recent weeks. Such approval is expected to further boost open interest and trading volume in XRP futures.
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