BitMEX, a leading platform in the cryptocurrency derivatives market, has announced a new quarterly futures contract for XRP. This contract, which opened for trading today, allows traders to buy and sell based on XRP’s price.
Details of the Newly Offered XRP Futures Contract
The quarterly futures for XRP offered by BitMEX differ from perpetual futures contracts as they expire on a set date. These products close based on the spot market price at the end of the contract period. The XRPZ25 contract, which began trading on September 9, will expire on December 26. Previously, the XRPU25 contract that started on June 10 is set to expire on September 26.
Futures contracts are widely used in financial markets as they offer opportunities for traders to hedge against price movements and form strategies based on market conditions. As a result, these contracts are particularly popular among institutional and professional traders. The reintroduction of quarterly futures for XRP has also expanded BitMEX’s product offerings.
BitMEX’s History with XRP
BitMEX first listed XRP on its platform in 2020 with perpetual futures, making it a tradable asset. In March 2024, XRP spot trading was also introduced on the platform, allowing users to engage with XRP in both futures and spot markets.
In January of this year, BitMEX introduced a multi-asset collateral system, enabling the use of XRP as collateral in derivative trades. During the same month, XRP options products became available to traders. Now, with the introduction of the new quarterly futures contract, XRP can be traded in spot, futures, and options products all on the same platform.
