Coinbase Derivatives lists XRP futures

Coinbase has listed futures contracts for the XRP token on its US derivatives trade, the cryptocurrency platform stated on April 21.

The contracts are overseen by the US Commodity Futures Trading Commission (CFTC) and supply merchants “a regulated, capital-efficient way to gain exposure to one of the most liquid digital assets,” the corporate stated in a publish on the X platform.

Coinbase’s XRP (XRP) futures embrace normal contracts representing 10,000 XRP and retail-oriented “nano” contracts representing 500 XRP every, or roughly $1,000 as of April 21, in accordance with regulatory filings.  

The contracts are the newest crypto futures to launch on Coinbase’s derivatives trade, which additionally options Solana (SOL) and Hedera (HBAR) futures contracts, each added in February. 

Related: Coinbase in talks to purchase derivatives trade Deribit: Report

Burgeoning market section

Since 2024, US exchanges — together with Coinbase, Robinhood and Chicago Mercantile Exchange — have been increasing crypto futures choices in response to robust demand from retail and institutional buyers. 

Futures contracts are standardized agreements to purchase or promote an underlying asset at a future date. They are widespread for hedging and hypothesis as a result of they let merchants take lengthy and quick positions, typically with leverage. 

Coinbase lists derivatives tied to some 92 completely different belongings on its worldwide trade and roughly two dozen within the US, in accordance with its web site. 

Its US-traded merchandise embrace contracts tied to memecoins, corresponding to Dogecoin (DOGE), and commodities, corresponding to oil and gold. 

In December, Coinbase stated derivatives buying and selling volumes soared roughly 10,950% in 2024. The trade is reportedly in talks to purchase Deribit in a bid to develop its derivatives footprint.

Coinbase launched its US derivatives trade in 2022, bringing cryptocurrency futures — together with retail-oriented “nano” contracts — to tens of thousands and thousands of US customers.

Launched in 2012, XRP Ledger is among the many oldest blockchain networks and makes a speciality of funds and decentralized finance (DeFi) functions for establishments. 

As of April 21, XRP’s market capitalization stands at roughly $120 billion, in accordance with CoinMarketCap. 

In March, the US Securities and Exchange Commission (SEC) dropped a years-long lawsuit in opposition to XRP Ledger’s developer, Ripple, for alleged securities regulation violations.

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