Last week, several prominent media outlets and social media influencers falsely reported that the products received implicit approval from the U.S. Securities and Exchange Commission to launch on the mentioned date. The fake news spread like wildfire, likely causing a short-term spike in the price of XRP.
However, make sure later that this is not true. As USA Today reported, it is unclear when the exchange-traded products will actually be launched.
The recent amendment does not mean approval to launch the fund on May 14; this is merely a procedural update. However, the products are expected to launch in the near to medium term.
ProShares also applied for a spot trading fund in the United States alongside several other companies.
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