CME’s new-born XRP futures market is growing rapidly as sophisticated investors are drawn to cryptocurrencies focused on payments.
Standard and microfutures recorded a total trading volume of $235 million on Friday. According to data source CME Active Trader, the tally has brought cumulative transactions to $1.6 billion since its inception on May 19th.
“This record highlights the rapidly growing demand for new XRP futures suites,” Active Trader said in X.
CMEs are the preferred location for institutions seeking to gain exposure to digital assets through regulated derivatives, while avoiding direct ownership of tokens. CME futures linked to Bitcoin and ether are widely considered to be representatives of facility activities.
The XRP standard contract is the size of 50,000 XRP and micro contracts for 2,500 XRP.
Ripple, which uses XRP to promote cross-border transactions, is reportedly interested in applying for a banking license in the US and expanding the market for Crypto Assets (MICA) licenses to the European Union.
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