Coinbase Institutional Introduces 24/7 Trading for XRP and Solana Futures
Coinbase Institutional is set to expand its derivatives offering by launching 24/7 trading for XRP and Solana futures starting on June 13.
As per a statement released on May 29, the move is aimed at providing US institutional investors with real-time access, aligning with the continuous nature of the global crypto markets.
Advancing Derivatives Trading
This new offering will enable investors to trade XRP and Solana futures alongside established assets like Bitcoin and Ethereum, which are already supported for round-the-clock trading on Coinbase.
Earlier this year, the exchange introduced 24/7 perpetual futures trading for Bitcoin and Ethereum. Coinbase emphasized that this futures product was developed in collaboration with the Commodity Futures Trading Commission (CFTC), showcasing a commitment to adhering to US regulatory frameworks.
Furthermore, this product expansion comes at a time of positive sentiment towards crypto in the US. The current administration, under Donald Trump, has taken proactive steps to facilitate the growth of the emerging industry by introducing new rules and regulations to support its development.
With this latest move, Coinbase is well-positioned to capitalize on the growing institutional demand in the US and globally, aiming to capture a larger share of the derivatives market. Derivatives make up approximately 75% of global crypto trading volume, with the majority of trading activity taking place outside the US.
Increasing Interest in XRP and Solana Products
This development follows a surge in interest among American investors for XRP and Solana, driven by the increasing pro-crypto sentiment across the country.
Several exchanges and ETF issuers have intensified their efforts to introduce products linked to these assets, taking advantage of the favorable environment created by the current administration.
According to data from CryptoSlate, XRP and Solana rank as the fourth and sixth-largest cryptocurrencies by market capitalization. These digital assets have garnered renewed attention due to their impressive price performance and growing institutional adoption over the past year.
The original article “Coinbase adds 24/7 trading for XRP and Solana futures amid derivatives expansion” was first published on CryptoSlate.
