XRP Futures Could Be the Next Product on Coinbase Institutional’s Radar

Coinbase Targets Derivatives Growth with Planned XRP Futures Launch

Coinbase Institutional is deepening its commitment to crypto derivatives, revealing plans to launch XRP futures contracts through a fresh filing with the Commodity Futures Trading Commission (CFTC).

Announced via X on Friday, the move marks a strategic step into one of crypto’s most actively traded assets.

“We’re excited to announce that Coinbase Derivatives has filed with the CFTC to self-certify $XRP futures,” the post read. “We aim to bring a regulated, capital-efficient way to access XRP. The contract is set to go live April 21, 2025.”

The planned product — trading under the ticker XRL — will be a cash-settled, margined futures contract that tracks the price of XRP in U.S. dollars. Each contract will represent 10,000 XRP, translating to a notional value of around $20,000 at today’s $2 per token price.

Contract specs include:

Monthly expiries available for three consecutive months
Trading safeguards, including a 10% hourly volatility circuit breaker
Margin-based exposure with cash settlement — no physical delivery

The launch would position Coinbase alongside Bitnomial, which debuted the first CFTC-regulated XRP futures in March. Coinbase’s move underscores growing institutional interest in structured exposure to digital assets beyond Bitcoin and Ethereum.

Despite the announcement, XRP slid 2% over the last 24 hours, mirroring general market sentiment amid macroeconomic jitters.

With a potential launch just weeks away, Coinbase is signaling it’s ready to capture demand for regulated altcoin derivatives — and XRP is just the beginning.