XRP Futures Explode Onto CME With $1.5M Debut—Traders Rush the Gates
CME’s new XRP futures market didn’t just open—it kicked the door down. Day one volume screams institutional interest, or at least speculative FOMO (take your pick).
Behind the numbers: The $1.5M maiden trade proves crypto derivatives aren’t just a Bitcoin game anymore. Even regulators’ favorite courtroom punching bag gets its Wall Street close-up.
The cynical take: Another product for hedgies to overleverage before blaming ’volatility’ when it blows up. But hey—liquidity is liquidity.
Spot XRP ETF could come soon
The launch of CME’s XRP futures has made analysts a little more optimistic about a spot XRP exchange-traded fund (ETF) approval in the coming months.
According to Nate Geraci, president of the ETF Store, the debut of XRP futures at CME makes a spot ETF approval more likely, saying on social media that it’s “only a matter of time.” Bloomberg’s senior ETF analyst Eric Balchunas reported that eight spot XRP ETFs are currently under review by the SEC.
In February, analysts estimated a 65% probability that a spot XRP ETF WOULD gain approval. On decentralized betting platform Polymarket, there’s an 84% chance a spot ETF would go live in 2025.
List of active XRP ETF applications
Multiple major financial firms have filed applications with the SEC for spot XRP ETFs, many of which were acknowledged earlier this year.
Bitwise Investment Advisers, founded in 2017, filed its application on October 2, 2024. The SEC acknowledged it on February 18, 2025, under FORM S-1.
Canary Capital, a venture capital firm based in Sydney, submitted its XRP ETF proposal on October 8, 2024, with acknowledgment on February 19.
21Shares filed its XRP ETF application on November 21, 2024. The SEC acknowledged the submission on February 19, 2025, under Form 19b-1. The firm is valued at $2 billion after raising $25 million from hedge fund Marshall Wace.
WisdomTree filed for its XRP ETF on December 2, 2024, and it was acknowledged on February 19. The firm has a longstanding presence in the ETF space, having launched its first fund in 2006.
On January 13, 2025, Grayscale Investments, an asset manager handling $35 billion, sought to transform its $16.1 million XRP Trust into an exchange-traded fund (ETF).
The XRP ETF proposal was filed on January 17, 2025, using Form N-1A by ProShares, a firm with $70 billion in AUM and a reputation for its Bitcoin futures ETF.
On January 21, 2025, RexShares, the firm behind the MicroSectors ETPs, applied to the SEC to list XRP as an ETF. Due to the recent reorganization under the new name of REX Financial, the firm recorded more than $5 billion in AUM by the end of 2024.
The Cboe BZX Exchange submitted an XRP ETF application on February 6, 2025. It was acknowledged on February 14 and filed under Form 19b-1. Cboe handles around 12% of daily US equity trading volume.
Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
