CME Overtakes Binance as Largest XRP Futures Venue
CME Group has overtaken Binance to become the largest platform for XRP futures open interest, according to data from CoinGlass. This shift comes as institutional interest in XRP continues to rise, with ongoing inflows into spot XRP ETFs.
The CME's open interest started rising in mid-August and nearly doubled to reach a 3-month high. As of now, the exchange has 410K XRP open interest valued at $530 million, surpassing Binance's 375K XRP open interest worth $510 million.
This development comes as spot XRP ETFs in the US saw a net outflow of $5.64 million on Monday, marking the 10th consecutive day of XRP inflows amid liquidity. The total assets under management rose to $1.45 billion, and cumulative inflows surpassed $1.67 billion.
XRP price is trading at $1.39, up more than 3% today and almost 50% last month. However, trading volume has decreased by 15% over the last 24 hours due to the monthly token unlock.