Bitnomial launches US XRP futures following the dismissal of lawsuit with the SEC

Crypto derivatives exchange Bitnomial announced on Wednesday the launch of its new Commodities Futures Trading Commission (CFTC)-regulated XRP futures products. The announcement follows the company dropping its lawsuit against the Securities and Exchange Commission (SEC) after the agency ended its case with Ripple.

Bitnomial launches XRP futures, drops case against SEC

Bitnomial, a crypto derivatives exchange company, revealed the launch of the first-ever CFTC-regulated US XRP futures product, which will begin trading on Thursday.

The product will be physically settled to ensure contracts are delivered in XRP tokens upon expiration. This distinguishes them from cash-settled alternatives that do not directly interact with the underlying asset.

The newly rolled-out XRP futures follow a series of product launches that the company announced last week, including futures products for Ethereum, Litecoin, Solana, Avalanche, Bitcoin Cash and Chainlink.

The company also claims its US futures products will be available on Botanical — its new US perpetual trading platform — at launch.

Bitnomial's XRP futures rollout closely follows the dismissal of its lawsuit against the SEC. The company stated that it voluntarily withdrew its case against the agency shortly after Ripple CEO Brad Garlinghouse confirmed the SEC had dropped its legal battle with Ripple.

Bitnomial sued the SEC in October, claiming the agency overreached its jurisdiction in seeking to regulate its proposed XRP futures contract alongside the CFTC.

Meanwhile, asset manager Volatility Shares will launch the first-ever US futures Solana ETFs on Thursday, per a Bloomberg report.

The new Volatility Shares Solana ETF (SOLZ) will grant exposure to Solana futures, while the Volatility Shares 2X Solana ETF (SOLT) will offer additional leverage.