Coinbase has announced a significant expansion of its derivatives offerings, enabling 24/7 trading for XRP and Solana (SOL) futures contracts for US traders, commencing June 13. This development aims to provide compliant access to altcoin derivatives amidst a dynamic regulatory landscape, reflecting the continuous, always-on nature of global cryptocurrency markets.

This initiative follows Coinbase Derivatives' recent activation of 24/7 trading for Bitcoin (BTC) and Ethereum (ETH) futures. With this step, Coinbase became the first Commodity Futures Trading Commission (CFTC)-regulated derivatives exchange in the United States to offer round-the-clock access to crypto futures contracts. The extension to XRP and SOL futures is expected to further bridge the gap between traditional US trading hours and the non-stop global crypto markets.

The strategic move positions Coinbase to capture a substantial share of the burgeoning global derivatives flow. According to the firm, derivatives now constitute more than 75% of the total global crypto trading volume. By introducing these new offerings, Coinbase seeks to tap into this growing demand, providing US traders with enhanced tools to remain active in a market that operates continuously.

Andy Sears, CEO of Coinbase Financial Markets, highlighted the importance of this development, stating, “The arrival of 24/7 CFTC-regulated markets is a game-changer for the industry.”

Coinbase had previously introduced Solana futures contracts in February, followed by the launch of XRP and nano XRP futures contracts last month. Despite their recent introduction, both assets are demonstrating strong traction. Data from a recent Thursday trading session indicated that nano Solana contracts led in daily trading volume with over 23,000 contracts traded. Concurrently, XRP futures, encompassing both nano and standard sizes, recorded a combined volume exceeding 13,000 contracts.

While Bitcoin and Ethereum futures remain foundational to Coinbase’s derivatives offerings, this early momentum suggests that traders are increasingly embracing altcoin derivatives alongside these established contracts. Further expanding its portfolio, Coinbase is now also offering futures contracts for other popular altcoins such as Cardano (ADA) and Hedera (HBAR). The exchange is also preparing to launch perpetual BTC and ETH futures in the U.S., a new instrument designed to meet the high demand for crypto derivatives within a fully regulated framework.

In addition to these market expansions, Coinbase Advanced is rolling out several new features to enhance the trading experience. These include an auto-sweeping function to send excess funds back to the user's main account, auto-rolling capabilities that use smart algorithms to manage expiring positions, and new order types with editable limit orders, which are expected soon. Furthermore, Coinbase is releasing a new margin health tool designed to make it easier for traders to track and manage their liquidation risk.

The strong early demand for these newer altcoin futures products underscores a growing interest among traders, indicating a broadening acceptance and utilization of diverse cryptocurrency derivatives on the Coinbase platform.