Key facts
- CME Group is now the largest platform for XRP futures open interest, surpassing Binance.
- CME's XRP futures open interest stands at $530 million, while Binance's is $510 million.
- CME's open interest has nearly doubled since mid-August.
- Spot XRP ETFs experienced net outflows of $5.64 million on Monday.
- Despite outflows, total assets under management for XRP ETFs reached $1.45 billion.
CME Group has surpassed Binance to become the largest platform for XRP futures open interest, according to CoinGlass data. CME's open interest reached $530 million with 410K XRP, overtaking Binance's $510 million with 375K XRP. CME's XRP futures open interest has nearly doubled since mid-August, hitting a 3-month high and a record of nearly $569 million on August 28.
This development occurs amid increased institutional interest in XRP, with reports indicating that Goldman Sachs has re-entered XRP ETFs and become a top holder, joining other Wall Street firms like JPMorgan and Morgan Stanley. However, spot XRP ETFs in the United States experienced net outflows totaling $5.64 million on Monday, marking the tenth consecutive day of outflows. Despite this, specific ETFs like Bitwise and Canary saw inflows, contributing to a total assets under management of $1.45 billion for spot XRP ETFs. XRP's price is trading at $1.39, up over 3% for the day and nearly 50% last month, though trading volume has decreased by 15% in the last 24 hours.