Demand For XRP On CME Explodes As Reports Show Over $18 Billion

Demand for XRP on the CME derivatives exchange continues to rise providing a bullish outlook for the ￰0￱ comes ahead of the potential approval of the XRP ETFs which could further spark institutional demand for ￰1￱ XRP Futures Hit New Milestone In an X post the CME group announced that it has hit its four-month milestone for XRP futures

with a notional trading volume of $18.3 billion 6 billion XRP traded and 397,000 contracts ￰2￱ again highlights the demand for the altcoin with the derivatives exchange previously stating that the altcoin’s futures products have shown demand from both institutional and retail ￰3￱ Reading: Institutional Investors Are Heavily Accumulating XRP And Solana – Here Are The Numbers Notably

the CME XRP futures crossed $1 billion in open interest (OI) last month with the altcoin becoming the fastest-ever contract to do so having hit the mark in just three ￰4￱ the demand for the altcoin on the derivatives exchange CME has announced plans to launch options trading on the XRP futures on October ￰5￱ is expected to further boost the demand on the CME exchange

which is a positive for the ￰6￱ new milestone for XRP futures comes just ahead of the potential launch of XRP ETFs under the 33 Act which will also elevate institutional interest in the ￰7￱ issuers are expected to file amendments for their respective funds as soon as the end of this ￰8￱ comes amid the SEC’s approval of the generic listing standards which could enable these XRP ETFs to launch ￰9￱ that doesn’t happen the focus will shift to Grayscale’s October 18 deadline

which is the first final deadline among all seven XRP ￰10￱ commission could approve these funds simultaneously just as it did with the Bitcoin and Ethereum ￰11￱ Demand Expected For The ETFs It is worth mentioning that market expert Nate Geraci had previously alluded to the success of the CME XRP futures as one of the reasons he believes people are underestimating the demand the spot XRP ETFs may ￰12￱ also noted at the time that there was already over $800 million in futures-based XRP ￰13￱ Reading: XRP Goes Head-To-Head With Bitcoin In This Metric As South Korean Market Wakes Up In another X post Geraci doubled down on his statement that people are “severely” underestimating the investor demand for the spot XRP ￰14￱ noted how a similar thing happened with the spot Bitcoin and Ethereum ETFs

which have so far exceeded ￰15￱ Capital CEO Steven McClurg also has high expectations for the XRP ETFs predicting that they could record up to $5 billion in inflows in their first ￰16￱ also believes that they could outperform the Ethereum ETFs in the ￰17￱ the time of writing the altcoin price is trading at around $2.75 down over 3% in the last 24 hours

according to data from ￰18￱ image from iStock chart from ￰19￱