Mark Twain’s Take on XRP’s Wild Ride at the CME 🚀💰

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What to know:

  • The CME’s XRP futures market hit a record trading volume of over $235 million on Friday. Imagine that, folks! 🤑
  • Institutional investors, those cautious critters, prefer the CME for regulated exposure to digital assets, avoiding the hassle of direct ownership. 🐢
  • Ripple, the company behind XRP, has applied for a banking license in the U.S. and is eyeing a Markets in Crypto Assets (MiCA) license to expand into the European Union. Talk about ambition! 🌍

The CME’s nascent XRP futures market is growing faster than a Mississippi flood, as sophisticated investors gravitate to the payments-focused cryptocurrency. 🌊

Together, the standard and micro futures registered a total trading volume of $235 million on Friday, the highest on record. The tally takes the cumulative trading since inception on May 19 to $1.6 billion, according to data source CME Active Trader. That’s more money than you can shake a stick at! 💸

“The record underscores the rapidly growing demand in our new XRP futures suite,” Active Trader said on X. I reckon they’re as excited as a cat in a creamery! 🐱

The CME is a preferred venue for institutions seeking to gain exposure to digital assets through regulated derivatives while avoiding direct ownership of the token. CME’s futures tied to bitcoin and ether are widely considered a proxy for institutional activity. It’s like a fancy dance where no one wants to step on anyone’s toes. 🕺

The XRP standard contracts are sized at 50,000 XRP and micro contracts at 2,500 XRP. That’s a lot of XRP, folks! 🌟

Ripple, which uses XRP to facilitate cross-border transactions, has applied for a banking license in the U.S. and is reportedly interested in getting a Markets in Crypto Assets (MiCA) license to expand into the European Union. They must be as busy as a bee in a honeycomb! 🐝

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2025-07-16 11:57