Coinbase has listed futures contracts for the XRP token on its US derivatives exchange, the cryptocurrency platform said on April 21.

The contracts are overseen by the US Commodity Futures Trading Commission (CFTC) and offer traders “a regulated, capital-efficient way to gain exposure to one of the most liquid digital assets,” the company said in a post on the X platform.

Coinbase’s XRP (XRP) futures include standard contracts representing 10,000 XRP and retail-oriented “nano” contracts representing 500 XRP each, or approximately $1,000 as of April 21, according to regulatory filings.  

The contracts are the latest crypto futures to launch on Coinbase’s derivatives exchange, which also features Solana (SOL) and Hedera (HBAR) futures contracts, both added in February. 

Source: Coinbase

Related: Coinbase in talks to buy derivatives exchange Deribit: Report

Burgeoning market segment

Since 2024, US exchanges — including Coinbase, Robinhood and Chicago Mercantile Exchange — have been expanding crypto futures offerings in response to strong demand from retail and institutional investors. 

Futures contracts are standardized agreements to buy or sell an underlying asset at a future date. They are popular for hedging and speculation because they let traders take long and short positions, often with leverage. 

Coinbase lists derivatives tied to some 92 different assets on its international exchange and approximately two dozen in the US, according to its website. 

Its US-traded products include contracts tied to memecoins, such as Dogecoin (DOGE), and commodities, such as oil and gold. 

Coinbase’s stock performance vs. the S&P 500. Source: JPMorgan

In December, Coinbase said derivatives trading volumes soared roughly 10,950% in 2024. The exchange is reportedly in talks to buy Deribit in a bid to expand its derivatives footprint.

Coinbase launched its US derivatives exchange in 2022, bringing cryptocurrency futures — including retail-oriented “nano” contracts — to tens of millions of US users.

Launched in 2012, XRP Ledger is among the oldest blockchain networks and specializes in payments and decentralized finance (DeFi) applications for institutions. 

As of April 21, XRP’s market capitalization stands at approximately $120 billion, according to CoinMarketCap. 

In March, the US Securities and Exchange Commission (SEC) dropped a years-long lawsuit against XRP Ledger’s developer, Ripple, for alleged securities law violations.

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