XRP futures contracts on the CME Group have hit a major milestone, surpassing $1 billion in open interest faster than any other crypto futures contract on the platform, including Bitcoin and Ethereum.
XRP’s Blazing Fast Growth
CME Group announced that its total crypto futures open interest topped $30 billion for the first time. A big part of this was due to XRP and Solana futures, each exceeding $1 billion in open interest. What’s really impressive is that XRP futures reached this $1 billion mark in just over three months – a record-breaking speed. This is significantly faster than Bitcoin and Ethereum futures achieved the same milestone on the CME.
The success wasn’t a one-off event. Data from August 18th showed over 6,000 XRP futures contracts open, with a total of over 251,000 contracts traded and $9 billion in notional volume over three months. This indicates consistent, sustained interest, not just a short-lived surge.
This rapid growth can be partly attributed to the timing of the launch. CME launched XRP futures in May, offering both standard and micro-sized contracts, making them accessible to a wider range of investors. The cash-settled structure also aligns with the risk management practices already used for Bitcoin and Ethereum on the platform.
CME described the $30 billion milestone as a sign of growing maturity and increased capital flowing into the crypto market. The speed at which XRP reached $1 billion in open interest suggests strong institutional demand for XRP exposure, exceeding that of Bitcoin and Ethereum at similar stages of their adoption on CME.
What’s Next for XRP?
The next step will be to see if this momentum continues. If the high level of activity from the first three months is maintained, it would solidify XRP’s position as a major player in the institutional crypto market on the CME.
Spot ETF Still Pending
While XRP futures are booming, the launch of spot XRP ETFs in the US is still awaiting SEC approval. Several major issuers have filed applications, but decisions have been pushed back to October 2025. Despite this delay, analysts are still optimistic, predicting a high chance of at least one spot ETF getting approved this year. At the time of writing, XRP was trading at $2.91.