XRP and SOL Futures Now Live on Coinbase for US Customers

• Coinbase expands U.S. derivatives with XRP and Solana perpetual-style futures.
• New contracts offer 5x leverage, 24/7 trading, and long-term expiration up to five years.
• Launch coincides with SEC delays on XRP ETFs amid growing competition in the perps market.

Coinbase has launched perpetual-style futures contracts for XRP and Solana, aggressively expanding its suite of derivatives available to U.S. traders. The move follows the platform’s recent launch of similar products for Bitcoin and Ethereum, signaling a clear strategy to compete in the rapidly growing U.S. crypto derivatives market.

The new listings feature nano XRP and nano Solana contracts, which are designed to make derivatives trading more accessible to retail users. According to Coinbase Derivatives, a CFTC-regulated market, one nano XRP contract represents 10 XRP, while one nano Solana contract is sized at 5 SOL. Both contracts are settled in U.S. dollars and use a funding rate mechanism to stay pegged to spot market prices.

These contracts diverge from traditional futures by offering expiration terms of up to five years, allowing for a 24/7 perpetual-style trading experience. While Bitcoin and Ethereum contracts on the platform offer up to 10x leverage, the new XRP and Solana products will provide up to 5x leverage.

Bold Move in a Cautious Regulatory Climate

Coinbase’s launch comes at a fascinating time for U.S. crypto regulation. On the very same day as the announcement, the Securities and Exchange Commission (SEC) once again postponed its decisions on multiple spot XRP ETF applications. The timing highlights Coinbase’s strategy of pushing forward to broaden access to derivatives, even as regulatory clarity for the underlying assets remains uncertain.

This two-pronged approach of launching new products while also working to “Educate” Washington through its new “American Innovation Project” shows Coinbase’ sophisticated push for market leadership.

Competitive Push Into Perpetual Futures

Perpetual futures have become a key battleground in the digital asset market, a fact underscored by the recent explosion in volume for new listings, as seen when PUMP Token’s Perpetual Futures Trade Explodes with $346M in Volume Pre-Launch. 

While decentralized platforms like Hyperliquid have seen a surge in activity, U.S.-based competitors like Kraken and Robinhood are also expanding their offerings.

Coinbase’s entry with a CFTC-regulated product is a direct effort to capture this growing demand. The exchange first launched 24/7 futures for Bitcoin and Ethereum in May, and the addition of major altcoins like XRP and Solana confirms its ambition to become the premier regulated venue for crypto derivatives in the United States.