Open interest for XRP and Solana (SOL) perpetual futures on the Chicago Mercantile Exchange (CME) has surged to an all-time high, with the total value approaching $3 billion. This milestone signals a growing institutional appetite for regulated cryptocurrency derivatives beyond Bitcoin and Ethereum.

The latest data shows 9,900 open standard and micro contracts for XRP, while Solana contracts have reached 15,600. Tim McCourt, the Global Head of Equity and FX Products at CME, stated that this record activity shows investors increasingly prefer regulated futures markets to manage risk and capture growth opportunities within the digital asset space.

A Sign of a Broadening Market

The rapid growth of these products underscores the increasing demand. Solana futures, which launched on the CME in March, surpassed $1 billion in open interest by August. XRP futures accomplished the same feat within just three months of their introduction.

This trend is seen as a key indicator that the derivatives market, long dominated by Bitcoin (BTC) and Ethereum (ETH), is expanding to include other major altcoins. The strong performance of XRP and Solana futures on a regulated platform like the CME points to robust and broadening investment demand for a wider range of crypto assets.