SEC approves ProShares to launch three XRP futures ETFs starting April 30 offering new investment options.
XRP price rose by 3.5% after ProShares ETF approval showing strong market support for Ripple’s token.
Ripple and SEC move toward settlement while futures ETFs gain momentum in the growing crypto investment market.
The U.S. Securities and Exchange Commission (SEC) has approved ProShares Trust to launch three XRP futures-based ETFs. According to an SEC filing, these ETFs will officially debut on April 30.
https://twitter.com/WuBlockchain/status/1916493370828132674 Details of New ProShares XRP ETFs
ProShares introduced three distinct offerings for XRP investors. The Ultra XRP ETF will provide 2x leverage on XRP futures. The Short XRP ETF will offer inverse (-1x) exposure to XRP futures. The Ultra Short XRP ETF will deliver inverse (-2x) leverage against XRP futures movements.
ProShares initially filed the proposals on January 17. The filing came days before President Donald Trump, known for his crypto-friendly stance, took office.
Background on XRP Futures ETFs
These ProShares products will track XRP’s price through the XRP Index, not by holding the token itself. Futures-based ETFs expose investors to XRP price movements without actual XRP ownership. Spot XRP ETFs, requiring token purchases, remain under SEC review.
Teucrium launched the first U.S. XRP futures ETF on April 8. It began trading on the New York Stock Exchange and received a strong market response.
Ripple’s Shifting Relationship with the SEC
Ripple’s longstanding tensions with the SEC appear to have eased. Under new leadership, the SEC has adopted a friendlier approach to cryptocurrencies. This shift followed Paul Atkins' appointment as SEC Chairman under Trump’s administration.
Ripple fought the SEC in court after being sued in 2020 for allegedly selling unregistered securities. In July 2023, a partial court victory ruled XRP not a security on secondary markets. However, Ripple paid a $125 million fine for institutional sales.
On March 19, Ripple’s CEO announced that the SEC agreed to drop its appeal, pending a formal vote. Ripple and the SEC filed a joint motion on April 10 to pause further proceedings. Settlement talks are now underway.
Impact on XRP and the Market
XRP’s price jumped 5.29% over the past 24 hours, reaching $2.27, according to data. XRP’s market capitalization now exceeds $312 billion. Unlike most major tokens, which declined, XRP showed the strongest performance. Bitcoin rose only 0.11% during the same period, highlighting XRP’s unique surge. Other top tokens experienced price drops, contrasting with XRP’s rally.
Pending Spot XRP ETF Applications
While futures ETFs are progressing, spot XRP ETFs still await approval. Firms like Grayscale, Bitwise, and WisdomTree have pending applications.
The SEC’s delays are typical for crypto spot ETF reviews, not unique to XRP. Other altcoin ETFs for Solana, Dogecoin, and Litecoin also await decisions. Optimism remains high among analysts for spot approvals later this year. CME Group's recent plan to introduce XRP futures strengthens expectations for a spot XRP ETF launch.
