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.
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