Coinbase to launch XRP futures as institutional interest grows

Coinbase Institutional has filed with the U.S. Commodity Futures Trading Commission (CFTC) to self-certify XRP (CRYPTO:XRP) futures contracts through its subsidiary, Coinbase Derivatives.

The contracts are set to go live on April 21, 2025, offering a regulated and capital-efficient way for investors to gain exposure to XRP, one of the most liquid digital assets in the cryptocurrency market.

The XRP futures contract will be monthly cash-settled and margined, trading under the symbol XRL.

Each contract represents 10,000 XRP, currently valued at approximately $20,000 at $2 per token.

Trading will be available for the current month and two months ahead, with safety measures in place to pause trading if spot XRP prices move more than 10% within an hour.

Coinbase stated that it has engaged with Futures Commission Merchants (FCMs) and market participants who support the decision to launch XRP futures.

"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," Coinbase Institutional announced on April 3.

This development follows Bitnomial's launch of CFTC-regulated XRP futures in March, marking increased competition in the XRP derivatives market.

Coinbase’s move could further expand institutional interest in XRP and enhance its accessibility in regulated financial markets.

Despite this progress, funding rates for XRP derivatives remain negative, reflecting bearish sentiment among traders.

Negative funding rates indicate that short sellers are willing to pay premiums to maintain their positions, signaling strong conviction from bearish market participants.

As demand for crypto futures continues to grow, Coinbase aims to position itself as a key player in regulated derivatives trading.

The introduction of XRP futures could pave the way for broader adoption and potentially influence future approval of spot exchange-traded funds (ETFs) for XRP.

At the time of reporting, the XRP (XRP) price was $2.07.