CME Group launched XRP futures on Sunday, with first-day trading volume exceeding 19 million USD, surpassing Solana futures' first-day volume of 12.30 million USD. XRP futures come in two types: micro contracts (2,500 XRP) and large contracts (50,000 XRP), with settlements based on the CME CF XRP-USD reference rate. Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, stated that XRP futures provide investors with liquidity and capital efficiency tools to support their cryptocurrency investment and hedging strategies. Bitcoin futures were first launched in December 2017, with a first-day trading volume of 102.70 million USD, and Ethereum futures debuted in February 2021, with a first-day volume of 31 million USD. The first XRP futures trade was completed by Hidden Road, whose President Noel Kimmel called it an important milestone for institutional adoption of digital assets. XRP is currently priced at 2.35 USD, down 0.76% in the past 24 hours. Recently, the U.S. Securities and Exchange Commission postponed decisions on spot SOL and XRP ETF proposals.

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CME Group, the largest derivatives marketplace in the U.S., debuted XRP futures for trading on Sunday, the group's fourth cryptocurrency product following the launches of BTC, ETH, and SOL futures. More than $19 million in notional volume traded on the first day, CME Group said Tuesday.CME Group XRP futures are available in both a micro-sized (2,500 XRP) and a larger-sized contract (50,000 XRP), and are cash-settled to the CME CF XRP-Dollar Reference Rate."The addition of XRP and Micro XRP futures to our leading, regulated cryptocurrency suite will provide investors with the deeply liquid, capital-efficient tools they need to support their growing cryptocurrency investment and hedging strategies," Giovanni Vicioso, global head of cryptocurrency products at CME Group, said in a release.Solana futures hit the exchange back on March 17 and generated $12.3 million in first-day trading volume, which led K33 analysts to question how big the institutional appetite is for altcoins. Over the past two days, the U.S. Securities and Exchange Commission has delayed making a decision on spot SOL and XRP ETF proposals.Bitcoin futures debuted in December 2017, recording $102.7 million in volume on launch day, and Ethereum futures generated $31 million on first-day trading in February 2021, The Block previously reported.The first XRP futures trade was cleared by Hidden Road."This is a significant milestone for Hidden Road, and the continued institutional adoption of digital assets – particularly in enhancing liquidity and risk management capabilities around XRP," saidNoel Kimmel, president of Hidden Road and CEO of Hidden Road's Futures Commission Merchant.XRP is trading at $2.35, down 0.76% over the past 24 hours, according to The Block's XRP data.

CME Group's XRP futures first-day trading volume exceeds 19 million USD, outperforming Solana