Coinbase Institutional has filed with the U.S. Commodity Futures Trading Commission (CFTC) to launch XRP futures, scheduled for April 21, 2025.
Launch of XRP Futures
Coinbase Derivatives has submitted a proposal to trade XRP futures under the symbol 'XRL'. Each contract will represent 10,000 tokens and will be settled in U.S. dollars, providing investors with a regulated way to gain exposure to XRP.
Potential Impact on the Market
The futures will be available for the current month and the next two months. If the spot price changes by more than 10% in one hour, trading will be paused. Coinbase has spoken with Futures Commission Merchants and other market players, signifying support for this new product.
XRP Market and Community Reaction
Despite positive intentions, negative sentiment persists in the XRP derivatives market, illustrated by negative funding rates. The crypto community is also discussing the confusion between XRP and Ripple following recent comments from Coinbase.
Coinbase's filing for XRP futures could lead to increased liquidity and attract institutional investors; however, current negative sentiment in the market remains significant.
