CFTC-regulated futures that are tied to the Ripple-linked XRP token have now gone live on the Coinbase exchange, according to a Monday announcement.
As reported by U.Today, Coinbase Institutional originally filed for XRP futures trading with the CFTC earlier this month.
This came after Bitnomial made a trailblazing move with the very first XRP futures earlier this year.
Regulated futures are a big deal for the controversial token since they will contribute to much broader institutional acceptance, ensuring market maturity. Institutions, which typically avoid unregulated platforms, can now safely get exposure to the popular cryptocurrency through such products.
Regulated cryptocurrency futures are considered to be a major stepping stone toward the eventual launch of a spot exchange-traded fund in the U.S. They significantly improve price discovery while also reducing market manipulation.
According to a recent Kaiko report, XRP has now raced ahead of Solana in the widely watched US spot ETF race due to its growing market depth. Currently, there are more than a dozen pending XRP ETF filings that will have to be reviewed by incoming SEC Chair Paul Atkins.
XRP is currently in the red despite the most recent bullish development, according to CoinGecko data.
Vladislav Sopov
Dan Burgin