XRP futures traded for the first time on the Chicago Mercantile Exchange (CME) Group’s US derivatives exchange on May 19, offering market participants new tools to manage risk and get exposure to the price of XRP as the Ripple-linked token’s mainstream adoption gains momentum.

A popular crypto industry pundit believes the CME futures listing bodes well for a potential spot XRP exchange-traded fund (ETF) listing in 2025.

XRP Futures Finish First Day Of Trading

Last month, CME confirmed plans to list two types of XRP futures contracts: retail-friendly micro contracts representing 2,500 XRP and standard contracts representing 50,000 XRP. They are the second regulated XRP futures to hit the US market after Coinbase launched XRP and nano XRP futures contracts on its derivatives exchange in April.

The newly launched XRP futures are settled in cash, not physical XRP.

On May 19, the contracts’ first trading day, 4 standard contracts totaling around $480,000 in notional volume at an average price of $2.40, changed hands on the exchange, according to CME data. The majority of activity came from 106 micro contracts, accounting for over $1 million in day one trading volume.

“The launch of regulated XRP Futures on @CMEGroup marks a key institutional milestone for XRP,” Ripple CEO Brad Garlinghouse stated on X on Monday, adding that Hidden Road executed the first block trade.

CME already lists futures contracts for Bitcoin (BTC) and Ethereum (ETH). US regulators approved exchange-traded funds for both of those cryptocurrencies last year. 

The rollout of XRP futures on CME comes as efforts to settle the SEC’s protracted lawsuit against Ripple hit a wall in court.

As ZyCrypto covered last week, US District Judge Analisa Torres denied a joint request by the two parties to approve a settlement that would have reduced Ripple’s civil penalty from $125 million to $50 million.

Calling it “procedurally improper,” Judge Torres indicated that the motion did not satisfy Rule 60, which only allows relief from a final judgment under exceptional circumstances.

The ruling keeps Ripple’s legal woes alive and adds uncertainty over the timeline for spot XRP ETF approvals.

ETF Approval Odds

ETF Store Nate Geraci has expressed optimism about XRP’s next big move after the launch of the highly anticipated CME XRP futures.

Amid the buzz surrounding this significant development, Geraci reckons that U.S.-listed spot XRP exchange-traded funds (ETFs) are next in line. His remark suggests that the launch of the CFTC-regulated futures will act as a stepping stone for XRP to secure regulatory approval for spot products.

At least five ETF issuers, including Grayscale, 21Shares, WisdomTree, Bitwise, Canary Capital, and Franklin Templeton, have submitted paperwork with the SEC to introduce spot XRP ETFs. 

Bloomberg Intelligence estimates the likelihood that XRP ETFs are ultimately approved at approximately 85% following the change in leadership at the SEC.

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Filed under: Bitcoin - @ May 20, 2025 7:21 pm