In March, Chicago-based crypto exchange Bitnomial announced the launch of the “first-ever CFTC-regulated XRP futures in the US.” XRP futures trading is available on many of the world's leading centralized crypto exchanges, such as Binance, OKX, Bybit and BitMEX. Funding rates remain negativeIn late March, Cointelegraph reported that XRP derivatives’ funding rates had flipped negative as investor sentiment turned bearish. Related: XRP funding rate flips negative — Will smart traders flip long or short?
US crypto exchange Coinbase has filed with the US Commodity Futures Trading Commission (CFTC) to launch futures contracts for Ripple’s XRP token.“We’re excited to announce that Coinbase Derivatives has filed with the CFTC to self-certify XRP futures — bringing a regulated, capital-efficient way to gain exposure to one of the most liquid digital assets,” stated Coinbase Institutional on April 3. The firm added that it anticipates the contract going live on April 21.
Contracts can be traded for the current month and two months ahead, and trading will be paused as a safety measure if spot XRP prices move more than 10% in an hour. “The exchange has spoken with FCMs (Futures Commission Merchants) and market participants who support the decision to launch a XRP contract,” the firm stated. Coinbase is not the first to launch XRP futures in the United States.
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Author / Journalist: Cointelegraph by Martin Young
The story "Coinbase Institutional files for XRP futures trading with CFTC" has 388 words across 17 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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