The U.S. Securities and Exchange Commission (SEC) approved ProShares to launch exchange-traded funds (ETFs) for XRP futures contracts on April 30, according to a filing the company made with the SEC. Here’s everything you need to know about XRP, the token creator Ripple, how exchange-traded funds for futures contracts work, and other details. When was the proposal for XRP futures ETFs made? ProShares, which already offers Bitcoin exchange-traded funds, proposed in January the formation of three exchange-traded funds linked to XRP - Ultra XRP ETF (2x leveraged), Short XRP ETF (inverse leverage (-1x)), and Ultra Short XRP ETF (inverse leverage (-2x)), according to a report from CryptoSlate. The report added that ProShares' XRP Futures ETFs will track the price of XRP on the XRP index. The proposal came on January 17, 2025, following the election of U.S. President "crypto-friendly" Donald Trump, it said.