Sign Up on MEXC
Highlights
- XRP Futures will now be available to US investors as early as March 20
- Bitnomial launched the product amid improving SEC regulations
- The closure of the Ripple Labs case sets the precedence for this XRP futures launch
Crypto Options and Futures Exchange Bitnomial has announced the launch of the XRP futures contract, a product it has placed on its radar since at least October 2024. The exchange noted that the push for this product comes amid the improving regulatory clarity with the US Securities and Exchange Commission (SEC).
The Bitnomial XRP Futures Contract
As the Options exchange noted on X, this XRP Futures contract will be the first-ever CFTC-regulated offering in the United States. Bitnomial said its clients will have access to the XRP Futures product from March 20, 2025.
As it revealed, prospective clients can onboard with one of its three FCM Partners. These include R.J. O’Brien and Associates, Marex Capital Markets, Inc., and Bitnomial Clearing LLC. Bitnomial made this move shortly after the US SEC ended its Ripple lawsuit appeal.
Notably, the Commodity Futures Trading Commission (CFTC) ‘s approval of XRP futures further strengthens its position that certain digital assets fall under its jurisdiction as commodities.
Again this significant event happened months after the SEC had moved to counter the Bitnomial’s filing. The regulator claimed that XRP futures were security offerings and required additional regulatory oversight that falls within their purview.
However, with the Security Commission dropping its appeals against Ripple Labs Inc., the regulatory climate surrounding XRP has become more defined.
The End to the SEC Lawsuit
Bitnomial’s legal dispute with the security agency started under former SEC Chairman Gary Gensler in October 2024. The exchange sued the regulator over its claim of jurisdiction to regulate its products.
For context, the agency had posited in a court filing that Bitnomial’s XRP futures contract should be classified as a security. This will also require mandatory compliance with additional regulatory measures, including registration as a national securities exchange.
However, following the regulatory oversight decision to drop its appeal in the Ripple case, Bitnomial has chosen to voluntarily dismiss its lawsuit.
In addition, the exchange’s decision informs the changing regulatory environment and the CFTC’s growing influence in the regulation of crypto derivatives.
Implication for Crypto Regulation
Bitnomial’s move to launch its XRP futures contract aligns with a growing trend. Earlier, CME launched Solana futures for US customers as altcoins gained more momentum.
With the CFTC overseeing the futures market for Bitcoin and Ethereum, the approval of XRP futures adds another major digital asset under its jurisdiction. More importantly, with this latest development, the crypto industry is watching how the SEC and CFTC will work together to define their roles.
In addition, many experts believe that Bitnomial’s successful launch of XRP futures could set a precedent for future crypto derivative products in the U.S.
- Ethena Labs Secures Fresh Funding From ArkStream Capital, ENA Price Spikes
- SEC Forms International Task Force to Crack Down on Pump-and-Dump Schemes
- Justin Sun Pledges $20M Buy Following WLFI Wallet Freeze
- Expert Blames ‘Secret Committee’ for Rejecting MSTR Stock Inclusion to S&P 500
- MARA Bitcoin Treasury Nears $6 Billion, Trails Only Strategy in Public Rankings
- XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025
- Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition
- Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut
- ETH Price Forecast as Grayscale’s Covered Call Ethereum ETF Spurs Optimism — Is $8,500 in Sight?
- Bitcoin Price Prediction as SEC Unveils Agenda for Crypto Regulation — Is $200K Next?
