- XRP Futures ETF debuts strong with nearly $6M in first-day trading volume.
- Spot XRP ETF approval gains momentum despite SEC delay and ongoing legal hurdles.
- Ripple [XRP] is attracting renewed institutional interest after its regulatory headwinds finally came to an end after four years.
On the 19th May, CME Group launched its XRP Futures ETF, recording an impressive daily trading volume of nearly $6 million on debut.
CME’s XRP ETFs outperform ETH ETFs?
That being said, the newly launched XRP ETFs have quickly outpaced Ethereum [ETH] Futures ETFs in performance, signaling robust institutional interest.
If this momentum continues, XRP could challenge Bitcoin [BTC] Futures ETFs. However, reaching that level remains ambitious. BTC ETFs regularly see trading volumes in the billions.
Still, the early success of XRP products strengthens the case for Future spot ETF approvals.
Riding this institutional wave, XRP has seen a significant price rally. It jumped 1.33% to $2.33, with Open Interest surging to $4.69 billion, at press time.
Day one of trading — Details
CME Group data reveals that XRP Futures had a strong debut. On launch day, four standard contracts traded hands, each representing 50,000 XRP. This accounted for about $480,000 in notional volume at an average price of $2.40.
Most of the activity came from 106 micro contracts, each covering 2,500 XRP. Together, they contributed over $1 million in additional volume.
This trading pattern indicates that large players are entering the market. At the same time, smaller institutional participants are actively engaging with XRP Futures from the start.
Despite the SEC delaying its ruling on multiple crypto ETFs, including those tied to XRP and Solana [SOL], momentum around XRP investment vehicles keeps growing.
ETF Store President comments on spot XRP ETF
Remarking on the same, the president of the ETF Store, Nate Geraci, recently emphasized on X (formerly Twitter) that spot XRP ETFs are inevitable.
This highlights the significance of CME’s live, CFTC-regulated XRP Futures contracts.
In fact, sentiment on decentralized prediction platform Polymarket also remains optimistic, with an 83% probability priced in for eventual approval.
But, with Franklin Templeton’s application now pushed to the 17th of June, the coming weeks may prove pivotal in shaping the next phase of institutional access to XRP.
