The US Crypto Giant Coinbase Institutional said on Friday that it had submitted an archiving to the Commodity Futures Trading Commission (CFTC) to roll out future contracts tied to Ripple’s closely related XRP token.
“We are pleased to announce that Coinbase derivatives have submitted CFTC for self-certification of $ XRP-Futures-Well brings a regulated, capital-efficient way to get exposure to one of the most liquid digital assets,” it said in an X-post. “We expect the contract to go alive on April 21, 2025.”
According to the filing, XRP futures will act as a monthly, cash-resident, marginated contract, trade under Ticker XRL. Each contract mirrors XRP’s price, which is decided in USD, and represents 10,000 XRP – approx. $ 20,000 for the current $ 2 per Token value.
Dealers will have flexibility, with contracts available for the current month plus the following two, although a protection stops trading if XRP’s spot prices swing over 10% within one hour.
When launched, the product will be the second after Chicago-based Bitnomial’s CFTC-regulated XRP futures that went alive in March. The XRP prices have fallen 2% over the last 24 hours in line with a wider market drop.
