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In a major development for XRP, the fourth-largest cryptocurrency by market value, Coinbase Derivatives, has officially submitted a self-certification application to the U.S. Commodity Futures Trading Commission (CFTC), signaling its intent to launch XRP futures contracts.
Tomiwabold OlajideAccording to a post made by Coinbase Institutional on X (previously Twitter), the exchange anticipates the XRP futures contracts to go live on April 21, 2025. This move intends to provide investors with a regulated, capital-efficient way to obtain exposure to XRP, one of the most liquid digital assets on the cryptocurrency market.
"We're excited to announce that Coinbase Derivatives has filed with the CFTC to self-certify XRP futures - bringing a regulated, capital-efficient way to gain exposure to one of the most liquid digital assets," Coinbase Institutional tweeted.
What's more?
According to the filing, Coinbase Institutional will launch XRP futures as a monthly, cash-settled, margined product with the symbol XRL. Each contract reflects XRP's price, is settled in USD and represents 10,000 XRP, or approximately $20,000 at the current $2 per unit worth.
Alex DovbnyaTraders will have flexibility, with contracts available for the current month as well as the next two; however, a safeguard will halt trading if XRP's spot price moves more than 10% within an hour.
When it launches, it will be the second product following Chicago-based Bitnomial's CFTC-regulated XRP futures, which went live in March.
XRP emerges as retail favorite
This comes as XRP has emerged as a new retail favorite this cycle, diverging from Bitcoin's institutional-driven surge. According to Glassnode, "Since the 2022 cycle low, XRP active addresses are up 490%, while BTC has only seen a +0% increase - a sharp signal of speculative retail demand."
At the time of writing, XRP 's market valuation is $121.6 billion, trailing only Bitcoin (BTC), Ethereum (ETH) and Tether (USDT).
XRP has rebounded above the $2 mark after a drop below it in yesterday's trading session. It is currently up 2.16% in the last 24 hours to $2.09, having reached intraday highs of $2.10 as the broader crypto market slightly rebounded.
Vladislav Sopov
Dan Burgin