No XRP ETF launch is scheduled for April 30, confirms Steyffart.
ProShares will issue XRP futures ETFs, not direct spot products.
SEC continues reviewing spot XRP ETF applications from major firms.
Confusion surrounding the debut of an XRP exchange-traded fund (ETF) on April 30 has been addressed. Through an X post, Bloomberg ETF analyst James Seyffart confirmed that no XRP ETF from ProShares is scheduled for launch on that date.
https://twitter.com/JSeyff/status/1916885057010295181
His clarification followed general speculation triggered by a misinterpretation of regulatory filings. The rumors had cited an April 15 document, which lacked confirmation of any upcoming launch.
Misinterpreted XRP ETF Filing Sparks Market Chaos
Reports had lately circulated online suggesting that ProShares would unveil an XRP ETF on April 30. These claims were based on a regulatory filing that was not a launch announcement. Seyffart stated that the date was incorrectly cited and had no link to an actual ETF approval or listing. In another post on X, Ben Strack, a spokesperson from ProShares, also denied any scheduled launch.
https://twitter.com/strack_ben/status/1916862175425056988
The statement confirmed that ProShares has no ETF launch planned for that Wednesday. This statement effectively ended ongoing speculation around the supposed April 30 launch date. While no spot ETF is in the pipeline for launch this month, futures-based XRP ETFs are progressing. Nate Geraci, President of The ETF Store, explained that upcoming ProShares products will use futures contracts.
These funds will not directly hold XRP but will follow its price via futures strategies. ProShares plans to offer leveraged and inverse exposure to XRP, depending on the futures market performance. These strategies allow exposure to XRP’s price without physical holding of the asset. Hence, the upcoming ProShares products differ from those of a traditional spot ETF.
Teucrium’s Futures ETF Gathers Assets
This month, Teucrium launched the 2x Long XRP ETF under the ticker XXRP. The fund uses swap agreements to seek double the daily return of XRP. As of now, the ETF manages around $42.79 million in assets. This figure reflects activity around futures-based instruments tied to XRP. The product’s design aligns with other futures ETFs, which have become more common due to regulatory pathways.
These funds are structured to track crypto performance without direct custody of the token. At the same time, spot XRP ETFs are still under consideration by the U.S. Securities and Exchange Commission. Applications from Grayscale, Bitwise, and Franklin Templeton remain under active review.
Unlike futures products, spot ETFs involve stricter regulatory hurdles. That has contributed to longer approval timelines in the U.S. Brazil has already introduced a spot XRP ETF. However, U.S. regulators have not approved similar offerings to date. Bloomberg reports indicate that SEC leadership changes could affect how these applications are handled later this year.
