Coinbase enabled Trade at Settlement for XRP futures on May 1, making XRP TAS the first altcoin to have this institutional block-trade mechanism. This tool allows large block orders for XRP futures to be executed at the official 4 PM settlement price, reducing execution costs for institutional investors. Regulatory clarity is a key factor holding back some institutional investors from adding XRP to their portfolios, with a survey showing that 25% plan to do so in 2026. XRP is now on par with traditional commodity futures after being classified as a digital commodity by the SEC and CFTC in March 2026. Coinbase’s activation of TAS for XRP futures aligns with a broader institutional expansion of XRP, with Goldman Sachs and others increasing their exposure to XRP. The TAS launch coincides with a market maker program on Coinbase designed to enhance order book depth for XRP and other crypto futures. The activation of TAS is seen as a significant step towards institutional XRP demand becoming a reality.

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