XRP attracts attention to Wall Street while the new futures contracts in CME Group attract strong interest. Since the launch on 19 May, both XRP -Futures and Micro XRP -Futures have seen a high demand from both large investors and regular traders.
In his last reportThe CME group revealed that on the launch day alone reached the trade volume $ 19.3 million at 15 companies and four retail trade platforms. From ETF -Emitents to everyday traders, the broad participation shows the robust demand for XRP -Futures.
Open interest climbs to $ 70.5 million
Since the launch, XRP -Futures have registered $ 542 million in total trade volume. 45% of his volume was outside of North America, which shows the strong global presence of XRP. Open interest has also risen to $ 70.5 million.
The CME group announced its XRP -Futures in April to expand its crypto derivatives, which already includes Bitcoin, Ethereum and Solana. The XRP contracts come in two sizes, standard (50,000 XRP) and micro (2500 XRP). Both are set in cash and based on the CME CF XRP-Dollar reference.
Spot XRP ETF next?
This is important because the SEC has previously emphasized the need for a regulated futures market in approving Spot Bitcoin and Ethereum ETFs. With XRP -Futures Live now under CFTC supervision, experts say that this could ultimately make way for a place XRP ETF.
XRP is now a top candidate besides Solana and Litecoin for a spot ETF, with a 95% chance of approval. Experts believe that CME’s launch of XRP -Futures knew an important obstacle for a place XRP ETF, and spot XRP ETFs are just a matter of time.
CME also said that the recent momentum of XRP is driven by Ripple’s large movements, such as buying hidden road for $ 1.25 billion and launching RLUSD, a stablecoin that stimulates the use, liquidity and activity of XRP in Defi of XRP.
Credit : coinpedia.org
