🟣 The Chicago-based cryptocurrency derivatives exchange Bitnomial is set to launch futures contracts for XRP, with cash settlement in USD under the ticker “XUS.” These futures will be executed on the exchange’s electronic trading platform, with clearing handled by a CFTC-registered derivatives clearing organization.
🟣 The launch of an XRP-based exchange product was “inevitable” in the U.S., according to Ripple CEO Brad Garlinghouse. Analyst Nate Geraci believes that regulated futures contracts are essential for certain altcoins before they can experience the hype surrounding an ETF. Therefore, Bitnomial’s new product could be an important step toward the introduction of an XRP ETF in the U.S.