Coinbase Derivatives recently made a significant move towards expanding its cryptocurrency offerings by filing with the US Commodity Futures Trading Commission (CFTC) to introduce an XRP futures contract. If approved by the CFTC, trading for this new product could commence as early as April 21, 2025.
The proposal put forth by Coinbase Institutional would allow the company to self-certify the XRP futures contract, providing investors with a regulated and capital-efficient way to gain exposure to XRP through derivatives. This move is expected to increase institutional participation and lend greater legitimacy to the asset within traditional finance circles.
In the past 24 hours, XRP has emerged as the best-performing cryptocurrency among the top 10, with a gain of over 2% despite overall market weakness. This positive sentiment is likely tied to the news of the XRP futures filing.
Speculation surrounding a spot XRP exchange-traded fund (ETF) has been growing, with market analysts drawing parallels to the approval process for Bitcoin and Ethereum ETFs. The introduction of XRP futures could address regulatory concerns around market manipulation and price discovery, potentially paving the way for an XRP spot ETF approval by the SEC.
Following Ripple’s recent settlement with the SEC, which resolved a long-standing legal battle over XRP’s classification, Ripple CEO Brad Garlinghouse confirmed the settlement, marking a significant milestone towards regulatory clarity for XRP. This development has led to a shift in industry sentiment, with several firms gearing up for the anticipated launch of an XRP ETF.
Nate Geraci, president of The ETF Store, believes that the path to an XRP ETF is now more about timing than regulatory obstacles. As many as nine asset managers, including 21Shares, Bitwise, CoinShares, Franklin Templeton, WisdomTree, and Canary Capital, have expressed interest in offering XRP ETFs, indicating a growing demand for investment products tied to XRP.
As the cryptocurrency market continues to evolve, the introduction of XRP futures and the potential approval of an XRP ETF could further solidify XRP’s position in the digital asset space and open up new avenues for investors to access this popular cryptocurrency.