CME XRP Futures Hit Record Highs in July Amid ETF Approval Optimism
Highlights
- The CME XRP futures set new records in July, following optimism regarding ETF approval.
- Volume of micro XRP contracts traded was $126 million while open interest reached $43 million.
- Standard XRP futures notional value peaked at $788 million on July 24.
CME Group has announced that its XRP futures products performed excellently in July as its trading volumes and open interest reached record highs. Such an increase is happening in the wake of a growing optimism concerning approval of an XRP exchange-traded fund (ETF) in the United States.
Institutional Demand and Retail Activity Drive July Surge in CME’s XRP Futures
The CME provided a breakdown of the performance of its XRP ETF in an X post. On July 18, CME recorded the trading of 14,612 Micro XRP contracts, equal to a notional volume of $126 million.
Notably, smaller traders or those institutions that need to hedge on smaller capital use these micro contracts. As of July 22, the open interest in Micro XRP futures reached a new high of 4,812 contracts, or $43 million. This indicates greater positioning over the long-term.
The increase in momentum continued on July 23. The number of full-sized XRP contracts hit 4,765, recording a notional value of $775 million. Then, on July 24, open interest in standard XRP futures reached a new high of 4,766 contracts, or $788 million.
The consistent increases in both volume and open interest signal growing engagement from both institutional and retail traders. CME described the XRP futures suite as regulated and resilient. This description suggests that this product is ready for increased crypto derivatives activity.
ETF Speculation Contributes to Futures Momentum as Approval Chances Increases To 86%
Meanwhile, the surge in the XRP futures trading volume has also been accompanied by a growing speculation. The speculation is based on how soon a Ripple ETF will be approved. Analysts and market observers suggest that there’s rising interest in the demand for regulated XRP exposure.
There’s also a possibility that BlackRock may be filing for an XRP ETF soon. Researcher Anderson suggested that the asset manager’s filing may happen soon. His prediction is based on the fact that one of the firm’s executives is listed as a speaker at Ripple’s Swell 2025 conference.
Prediction market platform Polymarket currently shows an 86% probability that a Ripple ETF will be approved before the end of 2025. This odds is up 15% over recent weeks. An approval would likely boost open interest and trading volume in XRP futures.
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