Today news
2025-03-19 17:06:00
Crypto derivatives exchange Bitnomial has officially launched its XRP futures contract following the latest developments in the Ripple case.
On March 19, 2025, Ripple chief executive officer Brad Garlinghouse announced that the U.S. Securities and Exchange Commission had dropped its appeal in the regulator’s case against Ripple.
Shortly after, Bitnomial said it was dropping it’s own case against SEC.
More than that, the crypto derivatives exchange revealed the launch of its XRP(XRP) futures contract, the product that informed the lawsuit against the then Gary Gensler led SEC.
With the SEC now under new leadership and a pro-crypto stance under President Donald Trump, Bitnomial is moving forward with its product rollout.
In its announcement, Bitnomial said it had “voluntarily withdrawn” its own suit against the regulator. That initial lawsuit came in October 2024, the firm suing the agency after the SEC claimed jurisdiction over the proposed XRP futures product.
According to Bitnomial, the XRP futures contract will go live this Thursday, with approval from the Commodity and Futures Trading Commission.
“Bitnomial is launching the first-ever CFTC-regulated $XRP futures in the U.S. — physically settled for real market impact. Plus, we’ve voluntarily dismissed our case against the SEC as regulatory clarity improves,” the exchange wrote in an X post.
According to Bitnomial, current clients can access the XRP futures contracts beginning March 20, 2025. Meanwhile, all prospective clients will have an opportunity to onboard with one of the crypto derivatives exchange’s futures commission merchant partners.
FCM partners are entities that help investors buy and sell futures contracts. For Bitnomial, they include Bitnomial Clearing, an exchange affiliated futures commission merchant.
XRP price rose sharply after the Ripple announcement and could continue higher amid further bullish projections.
