XRP Spot ETF Options Open to US

XRP options tied to spot exchange-traded funds became accessible to eligible US investors on 9 September 2026. The Canadian Derivatives Clearing Corporation registered options on the Evolve XRP ETF and Purpose XRP ETF under a Form S-20 filing, opening the first regulated spot XRP options market to US market participants.

The underlying contracts continue to trade on the Montreal Exchange and clear through the CDCC. Evolve and Purpose have tracked XRP through spot ETFs on the Toronto Stock Exchange since mid-2025. In the United States, spot XRP ETFs have attracted over $1.70 billion in net inflows, but domestic exchanges have not yet listed options on them.

The cross-border registration followed action by the SEC and CFTC, which classified XRP as a qualifying digital commodity alongside Bitcoin, Ethereum, and Solana. Prior to this route, US investors had options access only through CME cash-settled futures and options referencing the CME CF XRP-Dollar Reference Rate.

Trading these contracts requires a brokerage account with Montreal Exchange access, such as Interactive Brokers. Because the underlying ETF shares trade in Canadian dollars, investors take on CAD currency risk alongside XRP price movements, as well as passive foreign investment company tax considerations.