Markets, XRP, Coinbase, Futures The commerce submitted a submitting to the CFTC to file XRP futures.
U.S. crypto giant Coinbase Institutional talked about on Friday it had submitted a submitting to the Commodity Futures Trading Commission (CFTC) to roll out futures contracts tied to Ripple’s fastidiously related XRP token.
“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,” it talked about in an X put up. “We anticipate the contract going live on April 21, 2025.”
According to the submitting, the XRP futures will operate as a month-to-month, cash-settled, margined contract, shopping for and promoting under the ticker XRL. Each contract mirrors XRP’s worth, settled in USD, and represents 10,000 XRP — roughly $20,000 on the current $2 per token valuation.
Traders can have flexibility, with contracts accessible for the current month plus the following two, though a safeguard halts shopping for and promoting if XRP’s spot worth swings over 10% inside an hour.
When launched, the product can be the second after Chicago-based Bitnomial’s CFTC-regulated XRP futures that went reside in March. XRP prices are down 2% beforehand 24 hours, in line with a broader market drop.
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