- Binomial becomes the first exchange to offer CFTC-regulated XRP futures, expanding access to compliant crypto derivatives in the United States.
- The exchange withdrew its lawsuit after the SEC ended its appeal against Ripple, marking a shift in the broader regulatory environment.
- XRP futures approval has increased optimism around an XRP ETF, with odds reportedly rising to 80 percent following the legal closure.
Digital asset derivatives exchange Bitnomial has announced the official launch of XRP futures contracts under the supervision of the Commodity Futures Trading Commission. This marks the first instance of XRP futures receiving regulatory approval by the CFTC. The development represents a significant step for compliant crypto derivatives in the United States.
Alongside the futures launch, Binomial has confirmed the withdrawal of its lawsuit against the U.S. Securities and Exchange Commission. The legal dispute began in October when the firm accused the agency of exceeding its regulatory boundaries. Bitnomial had argued that its XRP futures products did not fall under the SEC’s jurisdiction, prompting the initial legal action.
The decision to end the legal standoff followed a major update in the Ripple case. Earlier today, the SEC officially dropped its appeal against Ripple, closing a lengthy legal battle that began in 2020. Ripple’s legal chief Stuart Alderoty described the development as a turning point, while CEO Brad Garlinghouse referred to it as a clear win for the company.
Impact on ETF optimism grows
The timing of Bitnomial’s product launch has contributed to growing optimism surrounding a potential XRP exchange-traded fund. Following the end of Ripple’s legal case, industry analysts have raised the chances of an XRP ETF approval to 80 percent. Market watchers believe the combination of regulatory clarity and futures market activity is fueling momentum for broader institutional products.
Meanwhile, attention has turned to CME Group after previous reports suggested the derivatives giant had mistakenly published an XRP futures page earlier this year. Although the company described the listing as a technical error, some observers suspect that a formal product could be under development. CME had followed a similar pattern before launching Solana futures.
The approval of the CFTC on Bitnomial’s XRP futures means that there has been a change regarding how digital assets are classified and regulated within the United States. Disputes between Ripple and Bitnomial high-value legal cases suggest that there may be an opportunity for the marketplace and federal agencies to improve their relations. Thus, other firms may have to look for regulated approaches in crypto derivatives.
