#XRPETFs BIG NEWS For #XRPETFs
According to the submitted documents, it will launch an Ultra XRP ETF (2x leverage), a Short XRP ETF, and an Ultra Short XRP ETF (-2x leverage). However, no movement has been registered in its spot XRP ETF. Meanwhile, the SEC has acknowledged several spot XRP ETF applications to date, and the filing by fund manager Grayscale has a crucial deadline: May 22.
ProShares' approvals come weeks after Teucrium's 2x XRP ETF began trading earlier this month, becoming the first XRP ETF in the U.S. It accumulated over $5 million in trading volumes on its first day, becoming the company's "most successful" launch to date.
Last week, CME Group added XRP futures to its largest derivatives exchange in the U.S. for launch next month, along with BTC, ETH, and SOL products.
The wave of ETFs tracking XRP comes after the closely related company Ripple's long legal battle against the SEC, which fully concluded in March, clearing significant regulatory headwinds for the tokens.