Coinbase Exchange Has Launched CFTC-regulated Futures Tied to the Ripple-linked XRP Token

As reported by UToday, Coinbase Institutional originally filed for XRP futures trading with the CFTC earlier this month.

Coinbase Institutional has launched futures for CFTC-regulated tokens linked to Ripple's XRP in accordance with a recent announcement made on Monday.

Institutions will now be able to trade futures tied to the seventh-largest cryptocurrency on Coinbase Futures Exchange, an exchange that is specifically designed for institutional clients and that is registered with the Commodity Futures Trading Commission (CFTC).

Earlier this month, Coinbase Institutional filed for XRP futures trading with the CFTC, as reported by U.Today. This follows Bitnomial's launch of the first XRP futures earlier this year.

The launch of regulated futures is a significant development for the token, as it will contribute to broader institutional adoption and, in turn, greater market maturity.

Institutions, which typically prefer to avoid unregulated platforms, will have safe avenues to gain exposure to the cryptocurrency through such products.

Cryptocurrency futures that are regulated by U.S. authorities are seen as a key step toward the launch of a spot exchange-traded fund. They also aid in better price discovery and reduce the potential for market manipulation.

In a recent report by Kaiko, it was noted that XRP has overtaken Solana in the closely watched U.S. spot ETF application race due to the increasing liquidity in its market. Currently, there are over a dozen pending XRP ETF filings that will be overseen by the new SEC Chair, Paul Atkins.

Despite the latest bullish news, XRP is showing a slight decline today, according to data from CoinGecko.