Coinbase Derivatives will activate Trade at Settlement (TAS) for its nano and full-sized XRP futures contracts on May 1, giving the asset access to an institutional trading tool previously reserved for Bitcoin, Ethereum, gold, and crude oil. The move places XRP on equal footing with major commodities on the platform, allowing large traders to execute block orders at the official 4:00 p.m. ET closing price.
"With TAS, institutions can execute large block orders at the day’s official 4:00 p.m. ET settlement price instead of fighting live intraday prices," Sam Daodu, a crypto analyst at 24/7 Wall St., wrote on April 24. "For an asset that spent five years under an active SEC lawsuit, that’s a real win."
The launch follows a pivotal joint ruling from the Securities and Exchange Commission and the Commodity Futures Trading Commission on March 17, which classified XRP as a digital commodity. This regulatory clarity removed the ambiguity that had previously prevented Coinbase from offering institutional products for XRP. The new feature arrives as spot XRP exchange-traded funds have attracted over $1.28 billion in cumulative net inflows since their launch in late 2025, according to data from SoSoValue.
The introduction of TAS is the latest step in building a robust institutional pipeline for XRP. In March, Ripple Prime integrated Coinbase’s XRP futures into its $3 trillion clearing platform, and Ripple CEO Brad Garlinghouse joined the CFTC’s Innovation Advisory Committee in February. While XRP currently trades at $1.42, the new infrastructure from Coinbase provides a regulated pathway for the 65 percent of institutional funds that a recent survey showed were waiting for greater regulatory clarity before investing.
This article is for informational purposes only and does not constitute investment advice.
