Bitnomial launches XRP futures amid regulatory shifts

Bitnomial, a crypto derivatives exchange, has launched the first-ever U.S. Commodity Futures Trading Commission (CFTC)-regulated XRP (CRYPTO:XRP) futures product.

This launch follows the company's decision to voluntarily dismiss its lawsuit against the U.S. Securities and Exchange Commission (SEC), which had been ongoing since October 2024.

The lawsuit was initiated after the SEC claimed jurisdiction over Bitnomial's proposed XRP futures contracts, requiring the exchange to register as a securities exchange.

However, with the SEC dropping its appeal in the Ripple case, Bitnomial has moved forward with its XRP futures product under CFTC approval.

"We’ve voluntarily dismissed our case against the SEC as regulatory clarity improves," Bitnomial noted.

This decision reflects a broader shift in regulatory attitudes, particularly following Ripple's legal victory.

Ripple CEO Brad Garlinghouse described the SEC's decision to drop its appeal as a "resounding victory" for the company and the crypto sector.

The XRP futures contracts will be physically settled, meaning they will be delivered in XRP tokens upon expiration, providing a new regulated trading instrument for institutional and retail investors.

This launch aligns with the evolving regulatory landscape, where clarity and stability are increasingly important for market growth.

Bitnomial's decision to drop its lawsuit against the SEC highlights the improving regulatory environment under the Trump administration, which has seen a reduction in enforcement actions against crypto firms.

The SEC's acting chair, Mark Uyeda, has also signaled plans to ease certain crypto regulations, further contributing to this shift.

At the time of reporting, the XRP price was $2.44.