Coinbase Adds XRP Futures to U.S. Derivatives Platform

Coinbase has rolled out XRP futures contracts on its U.S. derivatives exchange, the company said on Monday. The products are regulated by the Commodity Futures Trading Commission (CFTC) and offer traders exposure to one of the most actively traded cryptocurrencies in a tightly supervised environment.

The exchange introduced two contract types: a standard version tied to 10,000 XRP and a smaller “nano” contract representing 500 XRP—valued at around $1,000 as of April 21, based on regulatory filings.

XRP joins Solana (SOL) and Hedera (HBAR) among the crypto futures listed on Coinbase’s U.S. platform, both of which were added in February.

The move reflects rising interest in crypto derivatives across the U.S. market. Since 2024, platforms like Coinbase, Robinhood, and CME have expanded their offerings to meet demand from both retail and institutional traders.

Futures contracts allow traders to bet on price movements or hedge exposure using leverage. Coinbase currently lists nearly 100 derivatives products globally, including U.S.-based contracts tied to assets like Dogecoin, gold, and oil.

In December, Coinbase reported that trading volumes in its derivatives segment skyrocketed by more than 10,000% in 2024. The company is also in talks to acquire crypto derivatives platform Deribit, a deal that would further strengthen its foothold in this market.

A deal would expand Coinbase’s derivatives business, which currently centers on futures contracts, and boost its global trading presence. Deribit offers a broad range of products, including options, futures, and spot trading, and reportedly saw $1.2 trillion in total trading volume in 2023.

Regulatory filings have reportedly been initiated in Dubai, where Deribit holds a license. If the acquisition proceeds, the license would need to be transferred to Coinbase.

Despite ongoing speculation, Deribit remains one of the largest options exchanges, with its trading data considered crucial for identifying market trends. The company claims its total trading volume nearly doubled last year.

However, the Dutch company exited the EU in 2020, relocating first to Panama and later to Dubai in 2023. Moreover, efforts to introduce new crypto options products have been impacted by low market volatility, even as Bitcoin ETF options attract investor interest.

Coinbase launched its U.S. derivatives exchange in 2022, offering smaller contracts designed to appeal to everyday investors.

XRP itself runs on the XRP Ledger, one of the longest-running blockchains in the sector. Known for its focus on payments and DeFi services geared toward institutions, the network has seen renewed interest following a favorable legal outcome in March, when the U.S. Securities and Exchange Commission dropped a lengthy case against Ripple, the company behind it.