#XRPETFs

FXStreet

Log in

XRP extends gains ahead of futures ETFs launch this week

04/28/2025 14:15:00 GMT|ByEkta Mourya

XRP climbs on Monday as traders digest the news of the SEC’s approval of ProShares XRP futures ETFs and their debut later this week.

Bitcoin hovers around $95,000 amidst a market-wide recovery in crypto prices.

Ripple President Monica Long killed the speculation surrounding an IPO.

XRP climbs over 3% on Monday, hovering around $2.33 at the time of writing. The rally is likely catalyzed by key market movers like XRP futures Exchange Traded Funds (ETFs) approval by the US financial regulator, the Securities and Exchange Commission (SEC), and a bullish outlook from technical indicators amid a broader crypto market recovery. 

XRP holders awaited an announcement from Ripple regarding an IPO in 2025. However, Ripple President, Monica Long, ended the speculation on the subject and affirmed on Thursday that the payment remittance firm has “billions of dollars in cash,” and is financially strong. 

SEC greenlights ProShares futures ETFs, traders await spot approval

The SEC greenlighted the ProShares Trust’s launch of multiple XRP futures ETFs, with the effective date set for Wednesday. Traders are awaiting the approval of spot ETFs, and the wait may be longer than anticipated in the US In Brazil, however, the first-ever XRP spot ETF made its debut on the main stock exchange B3 on Friday, according to an official press release. 

SEC approved the ProShares UltraShort XRP ETF, ProShares Ultra XRP ETF, and ProShares Short XRP ETF; all three products are designed to provide leveraged and inverse exposure based on the price of XRP futures. 

by. Ekta Mourya