Coinbase has listed futures contracts for the XRP token on its US derivatives change, the cryptocurrency platform stated on April 21.
The contracts are overseen by the US Commodity Futures Buying and selling Fee (CFTC) and supply merchants “a regulated, capital-efficient method to achieve publicity to some of the liquid digital property,” the corporate stated in a publish on the X platform.
Coinbase’s XRP (XRP) futures embody customary contracts representing 10,000 XRP and retail-oriented “nano” contracts representing 500 XRP every, or roughly $1,000 as of April 21, in keeping with regulatory filings.
The contracts are the newest crypto futures to launch on Coinbase’s derivatives change, which additionally options Solana (SOL) and Hedera (HBAR) futures contracts, each added in February.
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Burgeoning market phase
Since 2024, US exchanges — together with Coinbase, Robinhood and Chicago Mercantile Change — have been increasing crypto futures choices in response to robust demand from retail and institutional traders.
Futures contracts are standardized agreements to purchase or promote an underlying asset at a future date. They’re well-liked for hedging and hypothesis as a result of they let merchants take lengthy and quick positions, usually with leverage.
Coinbase lists derivatives tied to some 92 totally different property on its worldwide change and roughly two dozen within the US, in keeping with its web site.
Its US-traded merchandise embody contracts tied to memecoins, akin to Dogecoin (DOGE), and commodities, akin to oil and gold.
In December, Coinbase stated derivatives buying and selling volumes soared roughly 10,950% in 2024. The change is reportedly in talks to purchase Deribit in a bid to develop its derivatives footprint.
Coinbase launched its US derivatives change in 2022, bringing cryptocurrency futures — together with retail-oriented “nano” contracts — to tens of hundreds of thousands of US customers.
Launched in 2012, XRP Ledger is among the many oldest blockchain networks and focuses on funds and decentralized finance (DeFi) functions for establishments.
As of April 21, XRP’s market capitalization stands at roughly $120 billion, in keeping with CoinMarketCap.
In March, the US Securities and Change Fee (SEC) dropped a years-long lawsuit in opposition to XRP Ledger’s developer, Ripple, for alleged securities legislation violations.
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