ProShares has announced the launch of three futures exchange-traded funds (ETFs) based on XRP, set to debut on April 30, 2025, following
This is reported by Finway
“silent approval” from the U.S. Securities and Exchange Commission (SEC)
. This move indicates that the regulator did not reject the company’s applications and also did not postpone their review within the allotted time, allowing the products to enter the market.
About the New XRP ETFs
The funds being launched include the Ultra XRP ETF with 2x leverage, the Short XRP ETF, and the Ultra Short XRP ETF with -2x leverage. These new products provide investors with the opportunity to gain exposure to the cryptocurrency XRP through derivatives. In particular, the Ultra Short XRP ETF is a reverse fund whose value changes inversely to the price of the underlying asset.
It is worth noting that a futures XRP ETF from Teucrium has already been launched in the American market, but the new ProShares funds open up new opportunities for traders.
Expert Comments and Market Reaction
The head of The ETF Store, Nate Geraci, commented on the situation, emphasizing that these funds are not spot ETFs and raised the question of why the SEC initially approved the futures products. He stated,
“This is NOT a spot XRP ETF. In fact, these are several leveraged ETFs and reverse funds that gain exposure to XRP through derivatives”
. He also noted that there is already a 2x XRP ETF that is trading.
The news prompted a reaction in the XRP price, which showed a 3.7% increase on the daily chart. The XRP/USDT price on the Binance exchange was recorded according to TradingView. However, the SEC has yet to provide any response regarding spot XRP ETFs, having postponed the deadline for most altcoin-based ETF applications until the end of May 2025.