Coinbase XRP Futures Set for April 21 Launch After CFTC Filing

Coinbase Institutional files for XRP futures trading with CFTC

Coinbase Institutional has filed with the U.S. Commodity Future Trading Commission (CFTC) to launch XRP futures. The filing was made by its subsidiary, Coinbase Derivatives. The company plans to start trading XRPfutures contracts on April 21, 2025.

These contracts are designed to give investors, both institutional and retail. A regulated and efficient way to gain exposure to XRP. Each contract will represent 10,000 tokens and will be traded under the symbol "XRL". The contracts will be settled in U.S. dollars and will be cash-settled and margined.

XRP Futures to Increase Market Access and Liquidity

The contract will be available for the current month and the next two months. Trading will be paused if its spot price changes more than 10% in one hour, as a safety measure. Coinbase has confirmed that they have spoken with Future Commission Merchants (FCMs) and other market players, who support the new future.

As long as they adhere to all necessary regulations, Coinbase can launch the future through self-certification without waiting for direct CFTC approval. In the future industry, this is a typical strategy. It is anticipated that the action will boost XRP's liquidity and draw in more institutional interest.

Source: X

Negative Sentiment Seen in XRP Derivatives Market

Despite the new filing, its funding rates in the derivatives market have remained negative. In late March, traders had turned bearish on the coin. Negative funding rates mean short traders are paying long traders, suggesting a strong belief in a price drop.

As of April 4, data shows that funding rates are still negative. This shows that bearish sentiment remains high, even with the upcoming launch.

Coinbase Corrects Confusion Between Ripple and XRP

The crypto community reacted strongly to the news, especially after Coin base mistakenly referred to the product as “Ripple-future” in a now-deleted tweet. Ripple is the company behind the blockchain, while it is the token itself.

A user named Adam on X noticed the mistake. He said that it is a digital coin, and Ripple is the company behind it. After that, Coin base corrected the wording and confirmed that they are offering their futures, not Ripple futures.

Other Exchanges Also Entering XRP Futures Market

There are other companies in this market besides Coinbase. Ripple USD (RLUSD) was added to Kraken's trading list towards the end of March. RLUSD was exclusively accessible on Bitstamp prior to this. As a result, its trading volumes have increased.

Bitnomial, another US based crypto derivatives exchange, has announced it would launch XRPfutures. The product has been in development since October 2024. With more platform support, institutional interest in the asset is expected to grow.

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