XRP futures contracts launched on the Chicago Mercantile Exchange (CME) have amassed over $19 million in notional trading volume on launch day and continued to show strong activity with at least $10 million traded the following day.

• The futures contracts are cash-settled and refer to the CME CF XRP-Dollar Reference Rate.
• This launch is viewed as a significant step towards a possible approval of a spot XRP ETF in the United States.

Standard contracts for these futures represent 50,000 XRP, while micro contracts represent 2,500 XRP. They are clearable and have shown considerable market interest, with standard contracts alone achieving a trading volume of 7.5 million XRP on Monday and 2.95 million XRP on Tuesday.

“Spot XRP ETFs only a matter of time,” stated Nate Geraci, President of the ETF Store, reflecting optimism in the market.

Despite their strong debut, XRP’s spot price remained stable, hovering around $2.38, slightly increasing by 0.42% in the past 24 hours.

Read more: XRP Futures Rack Up $1.5M Trading Volumes on CME Debut