coindesk.com
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29 May 2025 07:41, UTC
The CME's recently launched $XRP
The regulated $XRP futures – standard and micro-sized contracts – began trading on the global derivatives giant a week ago, registering a total trading volume of 4,032, worth $86.6 million in the first six trading days, the exchange's spokesperson told CoinDesk.
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The spokesperson highlighted that "46% of the [total] volume occurred during non-U.S. hours" and nearly half of the trading comes from participants outside the U.S.
The data suggest strong international participation in the futures market. $XRP is a payments-focused cryptocurrency primarily designed for fast and low-cost cross-border payments.
Ripple, a financial technology company, uses $XRP and the $XRP Ledger (XRPL) to facilitate international money transfers.
The CME's standard and micro contracts, sized at 50,000 $XRP and 2,500 $XRP, respectively, are cash-settled and based on the SME CF CRP-Dollar Reference rate, which tracks the cryptocurrency's price daily at 4:00 p.m. London time.
These futures enable traders to gain exposure to the cryptocurrency without actually owning it.
