According to a recent SEC filing, ProShares has received approval to launch three exchange-traded funds tied to XRP futures, effective April 30, 2025. These products include the Ultra XRP ETF, offering 2× leveraged exposure to XRP’s daily price moves; the Short XRP ETF, providing −1× inverse exposure; and the Ultra Short XRP ETF, delivering −2× inverse leverage to XRP’s daily performance. The SEC’s green light comes just weeks after the conclusion of Ripple’s longstanding legal battle with the regulator, clearing a major hurdle for XRP-linked investment vehicles. Complementing these ETFs, CME Group will launch XRP futures contracts on May 19, further integrating XRP into mainstream derivatives markets. Veteran crypto investor Armando Pantoja noted on X that this approval could be “the first major domino to fall,” suggesting a spot XRP ETF may follow—potentially unlocking over $100 billion in fresh demand for XRP.
The New XRP Futures ETFs
Ultra XRP ETF
ProShares’ Ultra XRP ETF aims to deliver twice the daily return of XRP by investing in futures contracts, giving investors a leveraged play on the token’s price movements.
Short XRP ETF
The Short XRP ETF offers −1× inverse exposure, allowing traders to profit when XRP’s price declines—an attractive tool for hedging or bearish strategies.
Ultra Short XRP ETF
For those seeking a more aggressive bearish position, the Ultra Short XRP ETF targets −2× inverse leverage, delivering twice the opposite of XRP’s daily returns.
Market Context
These launches coincide with a broader push into regulated crypto derivatives. According to Reuters (via Benzinga), CME Group plans to introduce XRP futures on May 19, diversifying its offerings beyond Bitcoin and Ethereum. Moreover, the SEC’s decision follows the resolution of Ripple’s legal dispute, which had cast doubt on XRP’s classification and stymied new product approvals.
Expert Commentary
As highlighted by crypto investor Armando Pantoja on X, “The SEC’s approval of XRP Futures ETFs is just the first major domino to fall. A Spot XRP ETF could be next, unlocking real demand and sending prices soaring. $100 billion+ could soon flood into XRP… stay ahead.” This perspective underscores growing optimism that futures approvals will lay the groundwork for a spot ETF, which many believe would unleash substantial institutional capital into XRP markets.
Personal Insights
In my view, ProShares’ trio of XRP futures ETFs marks a pivotal milestone in the maturation of digital-asset markets. By offering both leveraged and inverse exposures in a regulated format, these products empower a wider range of investors to manage risk and express market views on XRP without directly holding the token. Coupled with CME Group’s forthcoming futures contracts, XRP is rapidly gaining infrastructure parity with Bitcoin and Ethereum in institutional circles.
Looking ahead, the real game-changer would be SEC approval of a spot XRP ETF—an outcome that appears increasingly plausible. If that materializes, we could witness a massive inflow of liquidity, broader price discovery, and new use cases for XRP across payments, treasury management, and decentralized finance. For now, market participants will be watching the April 30 debut closely, as these futures ETFs begin trading and set the stage for the next chapter in XRP’s integration into the traditional financial ecosystem.