- The crypto futures exchange Bitnomial has announced the launch of its US XRP futures products on Wednesday.
- Clients will be able to access the XRP futures starting on Thursday.
- Bitnomial also shared that it has ended its lawsuit against the SEC following the agency’s dismissal of its case involving Ripple.
On Wednesday, Bitnomial, a crypto derivatives exchange, introduced its new XRP futures products, now regulated by the Commodities Futures Trading Commission (CFTC). This announcement comes after the firm decided to withdraw its lawsuit against the Securities and Exchange Commission (SEC) after the agency concluded its case against Ripple.
Bitnomial launches XRP futures and dismisses case against SEC
Bitnomial has launched the first-ever CFTC-regulated US XRP futures product, set to start trading on Thursday.
These futures will be physically settled, ensuring that contracts are fulfilled in XRP tokens upon expiration. This feature sets them apart from cash-settled products, which do not directly involve the actual asset.
The introduction of these XRP futures comes on the heels of several product announcements from the company last week, including futures for Ethereum, Litecoin, Solana, Avalanche, Bitcoin Cash, and Chainlink.
Additionally, Bitnomial has stated that its US futures products will be launched on Botanical, its newly established US perpetual trading platform.
The rollout of XRP futures closely follows the resolution of the lawsuit against the SEC. The company noted that it voluntarily retracted its case shortly after Ripple CEO Brad Garlinghouse confirmed the SEC had concluded its legal dispute with Ripple.
Bitnomial had sued the SEC in October, arguing that the agency exceeded its authority in aiming to regulate its proposed XRP futures contract alongside the CFTC.
In related news, asset manager Volatility Shares is set to unveil the first US futures Solana ETFs on Thursday, according to a Bloomberg report.
The new Volatility Shares Solana ETF (SOLZ) will provide exposure to Solana futures, while the Volatility Shares 2X Solana ETF (SOLT) will offer leveraged options.