Coinbase is introducing a tool from traditional finance to the crypto world, aiming to make XRP futures more attractive to large traders.
Coinbase will introduce a Trade at Settlement (TAS) feature for its XRP futures contracts on May 1, 2026, aiming to attract institutional investors by providing a tool to mitigate intraday price volatility. The move signals a deepening integration of financial instruments from traditional markets into the digital asset space.
"This feature could enhance the appeal of XRP futures to institutional traders by providing a risk management tool common in traditional finance," according to the announcement on April 22. The new product arrives as aggregate open interest in XRP futures stands at $2.60 billion, per CoinGlass data, showing a robust derivatives market for the asset.
The TAS function allows traders to execute large orders at the official end-of-day settlement price, a method used in traditional commodity markets to reduce the risk of adverse price movements during a trading session. The launch is part of a broader industry push, with exchanges like Kraken and Coinbase preparing for a potential US regulatory shift that could formally approve perpetual futures. Coinbase has already self-certified long-dated, “perpetual-style” contracts to meet growing demand.
The new feature is designed to help Coinbase capture a larger share of institutional trading volume, which has historically gravitated toward offshore venues that offer more complex derivative products. The timing is notable, coming just after a significant 75 million XRP transfer, valued at approximately $108 million, was sent from Ripple to Coinbase-controlled wallets on April 21. Market analysts cited by Blockonomi suggested the flow was likely intended to provision liquidity for institutional demand, such as spot ETFs, rather than signaling an intent to sell.
This strategic move by Coinbase strengthens the infrastructure supporting XRP, which currently trades near $1.44. By offering sophisticated risk management tools, the exchange is working to position XRP as an institutional-grade asset. This aligns with a larger trend of global cryptocurrency exchanges accelerating efforts to enter the US market for advanced derivatives, anticipating clearer rules from the US Commodity Futures Trading Commission (CFTC). The introduction of TAS for XRP is a clear step in bridging the gap between the crypto-native trading environment and the established practices of institutional finance.
This article is for informational purposes only and does not constitute investment advice.
