Encryption Money CompanyCoinbaseRegulatory approval is being sought to provide futures contracts for XRP, an initiative that will expand the range of services in the derivatives market. Coinbase Derivatives announced on Thursday that it had submitted documents to the Commodity Futures Trading Commission (CFTC) for self-certification of XRP futures. The contract is expected to go online on 21 April 2025.
Twitter:
We're interested in accounting that Coinbase Deviatives has managed with the CFTC to self-certify $XRP Futures – bringing a regulad, capital-efficient way to gain exposure to one of the most commonly identified asses.
We agree the contract going live on April 21, 2025.
Stay Tuned...
Coinbase Institute (@CoinbaseInsto) April 3, 2025
The self-certification process allowed Coinbase to declare futures contracts to comply with regulatory requirements and simplified the introduction process, unless the CTC objected. This is part of its strategy, following the recent Solana (SOL) and Hedera (HBAR) futures contracts launched by Coinbase, to provide traders with an opportunity for both encrypted currency and traditional futures transactions on a regulated platform. The Exchange is also awaiting the approval of the CFTC futures contracts for Cardano (ADA) and Natural Gas, NGS, which are scheduled to be launched by the end of the month.
At the time of the submission, the XRP transaction price had exceeded $2 and had fluctuated very little over the past 24 hours. As an important player in rapid, low-cost cross-border payments, digital assets, through the proposed futures contracts, allow traders to obtain a price change for the XRP without holding the underlying asset.
Since 2020, XRP has been the object of attention of the SEC, when it sued Ripple Labs for the status of XRP as an unregistered security. After four years of legal struggle, last month Ripple CEO Brad Garlinghouse announced that the SEC had withdrawn its appeal. As part of the settlement, Ripple agreed to pay a reduced fine of $50 million, lower than the original $125 million fine, and withdrew the cross-appeal, pending the final resolution of the matter after the completion of the legal proceedings.
In the expert ' s view, this result may have prompted the United States to approve the spot XRP ETF. Several fund management companies have submitted their respective XRP ETF applications to SEC, including Bitwise, Canary Capital, 21 Shares, WisdomTree, CoinShares, Graysdale and Franklin Templeton. ProShares and Volatility Shares are also seeking approval for their XRP-related investment products. Nate Geraci, President of ETF Store, predicted that the resolution of the case might encourage financial giants such as BlackRock and Fidelity to explore the possibility of developing XRP ETF.