Coinbase is adding a closing-price execution feature to XRP derivatives trading. The move is aimed at letting institutional investors handling large volumes trade while avoiding intraday price swings, adding momentum to a trend of XRP moving into mainstream finance.

On April 21, blockchain media outlet The Crypto Basic reported that Coinbase said in new documents filed with the U.S. Commodity Futures Trading Commission (CFTC) that it plans to introduce trade at settlement (TAS) from May 1.

TAS executes futures contracts at an official settlement price rather than real-time market prices. The feature will apply mainly to block trades used by large participants. Coinbase included both nano XRP futures and standard XRP futures in the eligible products. Bitcoin, ether, gold and crude oil were also listed.

The structure is focused on reducing the trading burden for institutional investors. It allows them to avoid periods of sharp intraday price swings and take positions based on a set closing price. Coinbase explained that the feature follows key requirements under the Commodity Exchange Act designed to maintain a fair and transparent market free of price manipulation.

Market surveillance will remain in place under existing rules. Coinbase said all TAS trades will be monitored under existing regulations, and its market regulation team will oversee trading activity to ensure fair trading. It added there are currently no known objections to the launch of the feature.

The move is drawing attention as it brings XRP a step closer to trading methods used in traditional finance. TAS is seen as a tool suitable for institutional operations where price control and risk management are important. Coinbase applying the same trading method used for bitcoin, ether and major commodities to XRP is being read as a move to retool XRP into a product that institutional money can handle more easily.

The trend is also seen in spot exchange-traded fund (ETF) flows. According to figures compiled by SoSoValue, spot XRP ETFs drew an additional $3 million on April 21, bringing cumulative net inflows to $1.28 billion. Net inflows into the spot XRP ETF market extended to an eighth consecutive trading session.

By asset manager, Canary Capital attracted $421 million from 2025 onward, while Bitwise recorded $416 million and Franklin recorded $345 million. Grayscale also showed cumulative inflows of $120.93 million. By contrast, 21Shares saw cumulative outflows of $20.7 million, but total assets of the XTRP ETF remained at $154 million.

Coinbase's feature addition and the ETF inflows show institutional demand around XRP is expanding simultaneously into derivatives and exchange-traded products (ETP). The market is watching how much institutional participation in XRP futures trading will actually increase after TAS is introduced in May.