Coinbase Files with CFTC to Launch XRP Futures Contracts
The filing, announced on April 3 by Coinbase Institutional, signals the firms commitment to expanding its derivatives offerings and providing a regulated, capital-efficient way for investors to gain exposure to XRP.
Were 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 said in the announcement. The firm expects the contract to go live on April 21, 2025.
Details of the XRP Futures Contract
According to the certification filing, the XRP futures contract will be a monthly, cash-settled, and margined contract, traded under the symbol XRL. The contract will track the price of XRP and will be settled in U.S. dollars. Each contract represents 10,000 XRP, which is currently worth about $20,000 at the price of $2 per token.
These futures contracts will be available for trading for the current month as well as the next two months. To safeguard against excessive volatility, trading will be paused if the spot price of XRP moves more than 10% in a one-hour period. Coinbase has stated that it has consulted with Futures Commission Merchants (FCMs) and market participants, who have shown support for the decision to launch the XRP futures contract.
A Growing Market for XRP Futures
Coinbase is not the first to introduce XRP futures in the U.S. In March 2025, Chicago-based crypto exchange Bitnomial launched what it called the first-ever CFTC-regulated XRP futures in the U.S. However, Coinbases move is significant due to its large institutional client base and the platforms established presence in the U.S. crypto market.
XRP futures are already available on several major global cryptocurrency exchanges, including Binance, OKX, Bybit, and BitMEX, providing investors with various avenues for trading this popular digital asset through regulated futures contracts.
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