Coinbase Submits Filing for XRP Futures Contracts to CFTC
Coinbase Institutional has filed with the Commodity Futures Trading Commission (CFTC) to launch futures contracts linked to Ripple's XRP token. Key details include:
- The contract is expected to go live on April 21, 2025.
- XRP futures will be monthly, cash-settled, margined contracts trading under the ticker XRL.
- Each contract represents 10,000 XRP, roughly valued at $20,000 based on the current price of $2 per token.
- Traders can access contracts for the current month and the next two months.
- A trading halt will occur if XRP’s spot price fluctuates over 10% within an hour.
This product follows the launch of XRP futures by Bitnomial in March. Currently, XRP prices have decreased by 2% in the last 24 hours amid a broader market decline.