Coinbase Derivatives has taken a major step toward expanding its crypto offerings by filing with the US Commodity Futures Trading Commission (CFTC) to launch an XRP futures contract.
If the CFTC gives the green light, trading could begin as early as April 21, 2025.
According to Coinbase Institutional, the proposal would allow the company to self-certify the product. This means investors could soon access a regulated, capital-efficient way to gain exposure to XRP through derivatives.
The move could also broaden institutional participation, giving the asset greater legitimacy in traditional finance circles.
According to data from CryptoSlate, XRP emerged as the best-performing top 10 cryptocurrency in the past 24 hours. It gained over 2% despite the broader market showing signs of weakness, suggesting positive sentiment tied to the futures filing.
XRP ETF?
The filing comes at a time when speculation around a spot XRP exchange-traded fund (ETF) is gaining traction.
Market analysts note that Bitcoin and Ethereum received ETF approvals only after their respective futures markets matured. These futures products helped address regulatory concerns, particularly around market manipulation and price discovery.
If XRP futures go live, they could serve a similar function—offering the SEC a tested framework for approving a spot ETF tied to XRP. This is especially relevant following Ripple’s recent settlement with the SEC, which resolved a years-long legal battle over the asset’s classification.
Ripple CEO Brad Garlinghouse confirmed the settlement last month, which many believe has cleared one of the final hurdles for XRP’s regulatory clarity. Since then, industry sentiment has shifted, with several firms preparing for what they see as an inevitable ETF launch.
Nate Geraci, president of The ETF Store, recently stated that the path to an XRP ETF is now more about timing than regulatory roadblocks.
So far, at least nine asset managers have shown interest in offering XRP ETFs.These include 21Shares, Bitwise, CoinShares, Franklin Templeton, WisdomTree, and Canary Capital.
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