title: Leading crypto firm Coinbase is seeking regulatory greenlight to offer the XRP futures contract

Coinbase Derivatives announced Thursday it had submitted documentation to the CFTC to self-certify futures for XRP. The contract is expected to launch on April 21.

Crypto exchange Coinbase is seeking regulatory to offer the XRP futures contract, expanding its offerings in the derivatives market.

Coinbase Derivatives announced Thursday it had submitted documentation to the CFTC to self-certify futures for XRP. The contract is expected to launch on April 21.

The self-certification process allows Coinbase to assert regulatory compliance for futures contracts, streamlining their introduction unless the CFTC raises objections.

The move follows Coinbase's recent launch of Solana (SOL) and Hedera (HBAR) futures contracts, part of its strategy to provide traders access to both crypto and traditional futures trading on a regulated platform.

The exchange is also awaiting CFTC approval for Cardano (ADA) and Natural Gas (NGS) futures contracts, planned for launch by month's end.

XRP traded above $2 at press time with minimal price fluctuation in the last 24 hours, according to TradingView.

The digital asset is recognized for its role in fast, low-cost cross-border payments. The proposed futures contract would enable traders to gain exposure to XRP's price movements without holding the underlying asset.

XRP has long been the target of the SEC's scrutiny. The regulator sued Ripple Labs, the token's developer, in 2020, alleging XRP's status as an unregistered security.

Four years from the start of the legal battle, last month, Ripple CEO Brad Garlinghouse announced the SEC's withdrawal of its appeal against the company.

As part of the settlement, Ripple agreed to pay a reduced fine of $50 million, down from the original $125 million penalty. The blockchain firm also withdrew its cross-appeal, finalizing the resolution pending legal formalities.

Experts believe this outcome could lead to the approval of a spot XRP ETF in the US. Several fund managers have filed with the SEC for their respective XRP ETFs, including Bitwise, Canary Capital, 21Shares, WisdomTree, CoinShares, Grayscale, and Franklin Templeton.

ProShares and Volatility Shares are also seeking approval for their XRP-related investment products.

ETF Store President Nate Geraci expects that the case resolution may encourage financial giants such as BlackRock and Fidelity to explore the development of XRP ETFs.