CME XRP Futures Reach $18.3 Billion Notional Volume Milestone

Demand for XRP on the CME derivatives exchange is increasing, indicating a bullish trend for the altcoin. This rise in interest coincides with potential approval of XRP ETFs, which could further drive institutional demand.

CME XRP Futures Achievements

The CME group reported hitting a four-month milestone for XRP futures with a notional trading volume of $18.3 billion, involving 6 billion XRP and 397,000 contracts.
XRP futures crossed $1 billion in open interest last month, marking the fastest contract to reach this level in three months.
CME plans to launch options trading on XRP futures on October 13, likely boosting demand further.
Launch of XRP ETFs under the 33 Act could increase institutional interest further, with fund issuers expected to file amendments soon.

The SEC's approval of generic listing standards may allow an earlier launch of these ETFs. If not, attention will shift to Grayscale’s October 18 deadline.

Anticipated ETF Demand

Market expert Nate Geraci highlighted the success of CME XRP futures as an indicator of underestimated demand for spot XRP ETFs.
Spot Bitcoin and Ethereum ETFs have exceeded expectations, suggesting similar potential for XRP ETFs.
Canary Capital CEO Steven McClurg predicts up to $5 billion in inflows for XRP ETFs in their first month, potentially outperforming Ethereum ETFs.

Currently, XRP is trading at approximately $2.75, having decreased over 3% in the last 24 hours according to CoinMarketCap.

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