XRP Futures Contract Reaches 19 Million USD on Launch Day

CME Group, the largest derivatives trading exchange in the United States, has started trading XRP futures contracts on Sunday. On the first day, the film generated over $19 million in nominal revenue, a launch figure much larger than Solana, which reached $12.3 million in March. XRP is currently the fourth cryptocurrency in CME's futures contracts after Bitcoin, Ethereum, and Solana. For traders, the futures contracts are offered in two sizes: micro 0.500 XRP per contract ( and standard 50.000 XRP per contract ). CME's XRP futures contracts will be cash-settled, meaning that when traders close their positions, they will be paid in US dollars instead of XRP. According to Giovanni Vicioso, the global cryptocurrency product director of CME, this addition "will help investors access the high liquidity, capital-efficient tools they need to support their developing cryptocurrency investment and risk hedging strategies." Futures contracts allow investors to speculate on the future value of an asset without having to own it. Traders can benefit if the price of XRP rises or falls based on their position, even without owning XRP from the start. This is different from spot trading, where investors buy or sell the actual asset at the current market price. Futures contracts are favored by many institutional investors and traders for hedging risks, providing exposure and leverage for bets. The strong launch of XRP futures contracts comes at a time when the U.S. Securities and Exchange Commission has postponed its decision on the spot applications for the XRP and Solana ETF proposals.