As Coinbase Derivatives launches XRP futures products, attention is also focusing on the possibility of XRP ETF listing.
Coinbase Derivatives, LLC has launched an XRP futures contract product regulated by the U.S. Commodity Futures Trading Commission (CFTC). This launch has further diversified cryptocurrency derivatives trading under U.S. regulatory supervision.
This is expected to serve as a stepping for stone for a spot XRP ETETF launch. The cryptocurrency industry has long has been pushing to launch spot XRP ETF products a products. The, U.S. Securities and Exchange Commission (SEC) has been viewing the existence of a regulated futures market as a key requirement for approving spot cryptocurrency ETFs. Bitcoin and Ethereum also had futures products launched before their spot ETFs were approved approved.
Until now, such structured products could only be traded through offshore exchanges with concerns about reliability and counterparty risks. However, now that Coinbase is providing these products within the United States, institutional investors can trade invest a more reliable platformworplatform.
This newsigns with the recent launch of Solana futures the ChicagoAntile Exchange (CM), CMand among the 72 cryptocurrency ETF applications currently filed with the SEC, many include XRP and Solana.
Despite the positive news, the XRP price has slightly declined after the announcement. Currently, XRP is trading at $2.0736, down 2% daily. It has not crossed the major resistance level of $2.10, with previous support lines now acting as new resistance.
However, XRP is still maintaining the important psychological support level of $2, attracting the attention of traders and analysts. If this level is maintained, the positive momentum from from futures launch and ETF potential could lead lead to a short-term rebound.
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