$235M XRP Futures Frenzy: Smart Money Loading Up?

TL;DR

• CME XRP futures hit $235M in one day, signaling rising institutional interest and global demand.
• SEC approves UXRP, the first U.S.-listed leveraged XRP ETF, set to launch on NYSE Arca.
• 3iQ’s Canadian XRP ETF tops $50M in assets as regulated products gain traction globally.

XRP Futures Set New Record on CME

CME’s XRP futures market posted its highest trading volume to date on July 11. Over $235 million in notional value changed hands in a single day, with volume spread across standard and micro contracts. This brings the total traded volume since the May 19 launch to over $1.6 billion.

The contracts offer exposure to XRP without requiring token ownership. The standard contract is based on 50,000 XRP, while the micro version covers 2,500 coins. These cash-settled products are tied to CME’s XRP-Dollar Reference Rate and are available to both institutions and retail traders.

Institutions Turn to Regulated Exposure

CME has become a go-to exchange for investors who want access to crypto through regulated markets. Its Bitcoin and Ether futures are already widely used, and XRP is now following a similar path. The latest numbers suggest growing use of XRP futures among trading firms.

CME’s Active Trader account posted, 

“XRP and Micro XRP futures crossed $235M notional traded on July 11.” 

That day, over 9,100 contracts were traded, equal to more than 82 million XRP. Micro contracts also saw their busiest session since launch.

Ripple, which uses XRP for international payments, is applying for a banking license in the United States. It is also looking to register under the MiCA framework in the European Union. These moves are part of a broader strategy to build compliant infrastructure for XRP in major markets.

XRP Gets First U.S. ETF as Global Demand Grows

XRP futures aren’t the only regulated product gaining traction. On July 14, 3iQ reported that its XRP ETF, trading on Canada’s TSX, crossed $50 million in assets. CME data also shows that 45% of XRP futures volume comes from outside North America, pointing to strong demand across regions.

Adding to this institutional wave, the SEC has approved the ProShares Ultra XRP ETF, a leveraged futures-based product set to trade under the ticker UXRP on NYSE Arca. Trading is scheduled to begin by week’s end, giving XRP its first U.S.-listed ETF exposure.