Bitnomial, a crypto options and futures exchange, has announced the launch of the first-ever XRP Futures contract in the United States. This move follows the US SEC dropping its lawsuit against Ripple Labs, providing clearer regulatory guidance.
Starting March 20, 2025, Bitnomial will offer the first-ever XRP Futures contracts, regulated by the CFTC. This marks a significant step, made possible by the SEC’s decision to drop its appeal in the Ripple Labs case. As a result, XRP is now recognized as a commodity under the CFTC’s jurisdiction, rather than a security under the SEC’s oversight.
As per Bitnomial’s announcement, Bitnomial clients will be able to access these futures contracts via one of its FCM partners, including R.J. O’Brien, Marex Capital Markets, and Bitnomial Clearing LLC. This development is expected to enhance market liquidity and support more efficient risk management for institutional traders.
Closure of Legal Dispute with SEC
The legal dispute between Bitnomial and the SEC began in October 2024. The SEC had claimed jurisdiction over XRP Futures, arguing they should be treated as securities. In response, Bitnomial filed a lawsuit seeking clarity on regulatory matters.
However, following the SEC’s decision to end its lawsuit against Ripple, Bitnomial decided to voluntarily dismiss its case. This shift indicates a changing regulatory landscape, with the CFTC now recognized as the authority over crypto derivatives.
XRP Futures and the Growing Role of the CFTC
Consequently, the price of XRP has reacted positively to the latest developments, rising from $2.29 to $2.49 today, reflecting a 10.20% increase in the last 24 hours, per Coingecko data.
The introduction of XRP Futures represents a growing trend in the crypto industry. The CFTC has already overseen futures markets for Bitcoin (BTC) and Ethereum (ETH). Now, XRP joins the list, marking a milestone for the CFTC.
As more digital assets fall under the CFTC’s jurisdiction, the market is watching how both the SEC and CFTC will continue to define their roles. Additionally, the success of XRP Futures could pave the way for future XRP ETF approvals, further supporting the case for crypto derivatives.
Ultimately, Bitnomial’s launch of XRP Futures signifies a critical shift in crypto regulation. The CFTC’s growing influence and clearer regulatory structures provide more opportunities for institutional investors and may pave the way for future products in the crypto space.
