Coinbase Derivatives lists XRP futures
Coinbase has launched futures contracts for the XRP token on its US derivatives exchange, regulated by the US Commodity Futures Trading Commission (CFTC). The contracts include standard contracts for 10,000 XRP and retail-oriented "nano" contracts for 500 XRP, valued at around $1,000 as of April 21. This addition follows previous launches of futures for Solana (SOL) and Hedera (HBAR) in February. Since 2024, US exchanges have been expanding crypto futures offerings due to high demand from retail and institutional investors. Futures contracts allow traders to buy or sell assets at a future date, facilitating hedging and speculation. Coinbase's US derivatives include contracts for various assets, including memecoins and commodities. In December, Coinbase reported a 10,950% increase in derivatives trading volumes in 2024. The exchange is also in discussions to acquire Deribit to enhance its derivatives presence. XRP's market capitalization is approximately $120 billion as of April 21, following the SEC's dismissal of a lawsuit against Ripple regarding securities law violations.
