CME Group has introduced XRP futures for trading, with the first block trade clearing on May 18 by Hidden Road.
Over $19 million in notional volume was traded on the first day, showing early support for the new futures contracts.
The XRP futures are available in micro-sized (2,500 XRP) and larger-sized (50,000 XRP) contracts, cash-settled to the CME CF XRP-Dollar Reference Rate.
The addition of XRP futures aims to provide investors with liquid and capital-efficient tools for cryptocurrency investment and hedging strategies.