The U.S. Securities and Exchange Commission (SEC) has authorized ProShares to introduce XRP-linked futures exchange-traded funds (ETFs), according to an April 30 launch regulatory filing. This approval marks a significant milestone for the cryptocurrency sector, particularly for $XRP and its developer, Ripple Labs.

Key Details:

- Product Structure: The ETFs will track XRP futures contracts rather than holding the digital asset directly.

- Regulatory Context: Comes amid ongoing legal clarity regarding XRP's status.

- Market Impact: Provides institutional investors with regulated exposure to XRP price movements

The approval follows growing demand for cryptocurrency investment vehicles, though it's distinct from spot ETF products that remain pending SEC review.