$XRP ๐๐๐๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅNew US XRP ETF Could Launch on April 30
A new XRP ETF is reportedly preparing to launch this month in the United States. So, is the long-awaited general approval finally here?
Interest in XRP is growing, and more and more companies are interested in offering an ETF based on the altcoin. But in recent days, launches have been multiplying in the United States.
Things are moving on the XRP front! After the launch of the first leveraged ETF in early April, a new issuer is preparing to enter the market.
ProShares, which already manages several exchange-traded funds, has just updated its application for approval to launch its XRP ETF on April 30th. This could end a review that has been ongoing since last January... provided the US SEC approves it in the coming days.
But beware, the proposed product still won't be spot! Instead, it will be based on futures contracts and will allow investors to gain exposure to XRP without directly holding the cryptocurrency. Everything will be done through swap agreements, so ProShares won't be investing directly either.
Given the success of Teucrium's XRP ETF, the token's price is expected to experience some volatility, especially since when ProShares opens an exchange-traded fund, spot products follow. But beware of bearish pressure: a crypto whale transferred $63.8 million worth of XRP to Coinbase, possibly with the intention of capitalizing on the enthusiasm and liquidating. This is especially true given that rumors of a partnership between Ripple and SWIFT could trigger an imminent rebound.
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