Us Crypto Giant Coinbase Institutional said on Friday that he had submitted a file to the Commodity Futures Trading Commission (CFTC) to deploy the closely linked XRP -related XRP contracts of Ripple.
“We are delighted to announce that Coinbase Derivatives has deposited with the CFTC to self-record the term contracts on $ XRP-providing a regulated and economical means in capital to expose itself to one of the most liquid digital assets,” he said in a post X. “We are planning that the contract will be online on April 21, 2025.”
According to the file, the term contracts on XRP will operate as a monthly, money and marginated contract, trading under the XRL Ticker. Each contract reflects the price of XRP, set in USD and represents 10,000 XRP – around $ 20,000 at the current $ 2 per evaluation of the token.
Merchants will have flexibility, with contracts available for the current month, plus the next two, although a backup interrupts trade if the cash price of XRP has more than 10% in an hour.
When launched, the product will be the second after the future XRP regulated by Bitnomial based in Chicago which were put online in March. XRP prices are down 2% in the last 24 hours, in accordance with a larger drop in the market.
