Digital asset derivatives exchange Bitnomial has announced the launch of the first-ever XRP futures regulated by the CFTC.
In addition, the firm has also dropped its lawsuit against the U.S. Securities and Exchange Commission (SEC).
Bitnomial took the SEC to court back in October, accusing the agency of attempting to overextend its jurisdiction. The lawsuit argued that Bitnomial's XRP futures were not within the SEC's statutory authority.
As reported by U.Today, the SEC dropped its appeal against Ripple earlier today, ending the multi-year legal battle.
Godfrey BenjaminRipple CEO Brad Garlinghouse described the decision as a "resounding" victory for the company. He also tanked his personal attorney Matt Solomon.
The long-awaited resolution of the legal battle and the launch of regulated XRP futures have pushed the odds of XRP ETF approval to 80%.
Will CME Group follow suit?
In January, CME Group leaked information about its intention to launch XRP futures. Even though the Chicago-based derivatives giant claimed that this was an error, it is possible that such a product remains in the pipeline.
CME Group launched Solana (SOL) futures after inadvertently posting the futures page for the cryptocurrency in its staging subdomain.
Vladislav Sopov
Dan Burgin