CME’s launch of XRP futures boosts institutional confidence and sparks speculation about an upcoming XRP spot ETF approval.

The recent launch of XRP futures on the Chicago Mercantile Exchange (CME) is igniting fresh excitement across the crypto world, with analysts and the XRP community speculating that a spot ETF might soon follow.

The cryptocurrency market continues to buzz with anticipation as the Securities and Exchange Commission's decision on the first-ever XRP exchange-traded fund approaches.

However, recent technical glitches have cast a shadow of doubt on the timeline for the long-awaited spot ETF.

According to a report by AZcoins, the Chicago Mercantile Exchange (CME) has begun trading in XRP futures, marking a significant step in mainstream financial institutions' adoption of the cryptocurrency.

The CME-listed futures contracts provide a way for institutional investors to gain exposure to XRP without directly buying, selling, or holding the coins. These contracts are also cash-settled, further simplifying participation for larger financial bodies.

The approval of the XRP futures contracts by the Commodity Futures Trading Commission (CFTC) also attests to their legitimacy and suitability for sophisticated investors.

Highlighting the significance of this moment, Brad Garlinghouse, CEO of Ripple, stated that Hidden Road, a major trading firm, executed the inaugural large-scale trade in XRP futures on CME.

"This is a landmark moment for XRP and the broader crypto market," Garlinghouse remarked.

"We've reached this point thanks to the tireless efforts of the entire Ripple team and the broader XRP community. Together, we're pushing the boundaries to create a more inclusive and interconnected financial system."

Anticipation for XRP ETF Grows

Following the launch of the futures contracts, Nate Geraci, president of the ETF Store and cofounder of the ETF Institute, expressed his belief that the introduction of an ETF on the XRP token could be the next logical step.

"It seems like forever ago, but in June 2023, the DC Circuit Court ruled that the SEC was being arbitrary in approving Bitcoin futures ETFs while denying the Grayscale Bitcoin spot ETF," Geraci explained.

"The court stated that if a crypto asset has a busy CME futures market, it would be illogical to prevent a spot ETF."

A decision on the proposed Franklin XRP Fund spot ETF is due from the SEC on June 17, 2025.

Its approval would allow for even broader investor access to XRP, similar to how the Bitcoin and Ethereum ETFs have brought in institutional capital and increased the cryptocurrencies' overall legitimacy.

However, recent technical glitches have caused setbacks in the ETF application process.

Despite the positive developments, such as the launch of the CME futures contracts and the pending decision on the Franklin XRP Fund, there are still hurdles to overcome before a spot ETF can be realized.

According to data from Benzinga, the price of XRP showed little movement in the short term, declining by 0.77% in the past 24 hours but seeing a significant spike of 63.87% in trading volume, which often indicates heightened interest.

As of now, XRP is trading at $2.37. While the token's price has remained largely stagnant, many believe that this period of consolidation is setting the stage for a substantial rally, especially if the ETF dream becomes a reality.