Bitnomial officially launches the first CFTC-regulated $XRP futures product

It is official! The first-ever US XRP futures product that will be regulated by the Commodities Futures Trading Commission (CFTC) is now live. Bitnomial’s physically settled XRP/USD futures are now trading. 

Current clients can access all Bitnomial Exchange products through their existing FCM links. Potential clients can also do this by signing up with one of Bitnomial’s futures commission merchant (FCM) partners: R.J. O’Brien and Associates, Marex Capital Markets, Inc., or Bitnomial Clearing LLC.

🚀And We're Live 🚀

Bitnomial's physically settled XRP/USD futures are now trading. Trade with real asset delivery, stronger price discovery, and full CFTC regulatory compliance.

Contract Specs and More: https://t.co/5medLQuC3C

Read: https://t.co/4prl7nCsIG pic.twitter.com/NahTjw8rtB

— Bitnomial (@Bitnomial) March 20, 2025

Luke Hoersten, CEO of Bitnomial, said, “As the first CFTC-regulated XRP futures in the U.S., this product represents a major step in expanding regulated digital asset markets.“

What this means for crypto investors

The exchange has been working on releasing this product since at least October 2024. Their work has overlapped with larger efforts to release more crypto derivatives suitable for institutions.

Bitnomial made it clear that the XRP futures contract is physically settled, which means actual XRP will be delivered upon contract expiration rather than cash settlements. This makes them different from cash-settled options that don’t have any direct connection to the underlying asset.

Over the last two weeks, Bitnomial has added physically settled futures on Solana, Avalanche, Chainlink, Bitcoin Cash, Litecoin, Ethereum, Polkadot, Hedera, and now XRP to its list of products.

Michael Dunn, President of Bitnomial Exchange, LLC, added, “With the addition of XRP futures, institutional and retail traders can now access a broader range of CFTC-regulated crypto derivatives […] This further solidifies Bitnomial’s position as the leading venue for U.S.-domiciled, fully compliant crypto derivatives trading.”

We go from being the defendant to the plaintiff – CEO of Ripple

The SEC said that XRP futures were securities, so Bitnomial had to get registered as a securities exchange before they could release the product.

Before Ripple could follow the rules, Bitnomial told it that it had to list XRP as a security, which it hasn’t done yet. It got worse when the exchange brought up a 2023 court decision that said XRP sold on secondary markets is not a security.

After getting permission from the CFTC to start its XRP futures product, Bitnomial dropped its lawsuit against the SEC. This ended a months-long regulatory dispute.

Brad Garlinghouse, CEO of Ripple, said that the SEC has dropped its appeal in the case that is still going on. This is the end of a court case that began in December 2020 over charges of an unregistered $1.3 billion securities offering. 

However, Despite the SEC’s withdrawal from its appeal, Garlinghouse clarified that the case is not entirely over. A cross-appeal is still pending, but the dynamics have shifted. He said,  “We go from being the defendant to the plaintiff […] Now, we’re in the driver’s seat, deciding how we want to proceed.”

This is news that the XRP community has been waiting for. The SEC’s decision to back down signals easing regulatory pressure on crypto markets. This shift is being seen as a victory not just for Ripple but for the entire crypto industry. 

Now, investors have confidence that the coin will receive undivided attention. Meanwhile, XRP raced yesterday, but it’s now 4.3% down in the last 24 hours. The coin is currently sitting at $2.45.

Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More