Ripple CEO Brad Garlinghouse has pointed to the rapid rise of XRP futures, acknowledging that they reached $1 billion in open interest in just over three months. According to CME Group data, he said that XRP futures contracts were the fastest-ever to achieve this milestone.
This development reflects the growing role of XRP in the broader derivatives market, signaling a sharp increase in institutional engagement with the asset.
Per @CMEGroup data, XRP Futures contracts were the fastest-ever (just over 3 months) to hit $1B in open interest. https://t.co/4wYYJqXhSv
— Brad Garlinghouse (@bgarlinghouse) September 4, 2025
CME Group Details Expanding Crypto Market
CME Group reinforced these observations in its August update, emphasizing that activity across digital assets reached record levels. The exchange reported $36 billion in open interest for crypto futures and options on August 22. At the same time, 1,006 large open interest holders were recorded, showing a significant presence of institutional participants.
XRP futures were first introduced on May 19, 2025, with the first block trade executed a day earlier and cleared by Hidden Road. The launch attracted immediate activity, with day-one notional volume surpassing $19 million.
Within the first month, trading volume rose to more than $500 million, over 24,600 contracts were traded, and open interest reached about $70 million, setting the stage for the rapid growth that followed. By August, XRP futures had established themselves among the fastest-growing contracts on CME.
XRP futures, along with Solana and Micro Ether contracts, hit all-time highs in open interest. CME noted that institutional activity is no longer limited to Bitcoin, as demand has broadened into a wider set of digital assets. This diversification indicates that market participants are exploring alternatives that offer distinct use cases and liquidity advantages.
Market Performance Across Assets
Bitcoin futures and options accounted for $168.9 billion in volume, while Ether contracts registered $127.4 billion. Solana futures contributed $9.2 billion, and XRP futures reached $8.1 billion. Together, these volumes drove the total crypto futures and options suite to $313.8 billion, setting a new record.
CME also noted milestone price levels for major cryptocurrencies, with Bitcoin reaching an all-time high of $124,000 and Ether hitting $4,900.
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Renewed Focus on XRP
Garlinghouse’s remarks highlight how XRP has become a central part of this expansion. The speed with which XRP futures reached $1 billion in open interest shows the asset’s appeal among professional traders.
The data suggests that XRP is not only gaining traction in traditional spot markets but is also carving out a stronger presence in derivatives trading. With futures activity at historic levels and open interest building at a record pace, XRP continues to establish itself as a leading digital asset for institutional exposure.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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