Institutional Appetite for XRP and Solana Futures Surges as CME Reports Record Open Interest
- Pro-XRP lawyer Bill Morgan highlighted data from CME Group showing XRP futures reaching $23.7 billion in notional value since May and $1.4 billion in open interest last month.
- VanEck has filed an updated Solana Staking ETF proposal with the SEC, setting a 0.30% management fee, undercutting Grayscale’s 0.35%.
Market experts point out that the institutional appetite for futures trading of altcoins like XRP and Solana is on the rise. As a result, this could potentially set up the stage for spot ETF approvals for these two altcoins moving ahead. Both, XRP ETFs and Solana ETFs are awaiting approval from the U.S. Securities and Exchange Commission, with the deadline approaching next week between October 18-21.
XRP and Solana Futures In Demand, ETFs to Follow Soon?
Pro-XRP lawyer Bill Morgan highlighted the growing institutional interest in regulated altcoin derivatives. He cited the rapid adoption of XRP and Solana futures as evidence of a shifting market landscape.
Morgan noted that while Bitcoin benefited from an early-mover advantage. Thus, he believes that the dominance of Bitcoin and Ethereum in spot ETFs is likely to end soon. Referring to a recent CME Group report, Morgan shared key data underscoring XRP’s expanding futures market presence.
The XRP futures reached a record level of large open interest holders. Since May 2025, a total of 476,000 contracts have been traded, representing $23.7 billion in notional value. On the other hand, the open interest for the XRP futures over the past month stood at $1.4 billion, hinting at strong institutional demand.
Morgan said these figures demonstrate increasing institutional engagement beyond Bitcoin and Ethereum. As said, earlier, the spot XRP ETFs are awaiting the final nod from the US SEC. Last week, Bitwise filed an updated S-1 registration with the U.S. SEC, for its proposed XRP ETF, as it approaches the final approval stage.
The S-1 amendments form part of the routine SEC review process, during which applicants revise their filings to incorporate the commission’s feedback. Grayscale Investments faces a final deadline on October 18, followed by 21Shares on October 19 and Bitwise Asset Management on October 22.
VanEck Challenges Grayscale With Lower Fees on Solana ETFs
Asset manager VanEck has submitted an updated filing to the U.S. Securities and Exchange Commission (SEC) for its proposed Solana Staking ETF, setting the fund’s management fee at 0.30%. This is lower than the 0.35% fees charged by Grayscale, for its GSOL ETF, as mentioned in our previous report.
Commenting on the development, Bloomberg ETF analyst Eric Balchunas noted that the structure appears competitive and transparent. “Solana spot fee 30bps, staking fee 28bps. Seems reasonable — love how clear they make it too. People need to be able to compare and contrast quickly,” he wrote on X.
Balchunas added that the relatively low fees make the proposed Solana ETF “very attractive versus other funds and intermediaries,” signaling growing institutional interest in Solana-based investment products.
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