Last week, several media outlets and prominent 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 false news spread like wildfire, likely leading to a short-term spike in the price of XRP.
However, make sure later that this is not true. As USA Today mentioned, it is unclear when the exchange-traded products will actually launch.
The recent amendment does not mean approval to launch the fund on May 14; this is merely an operational update. However, the products are expected to launch in the near to medium term.
ProShares has also applied for a spot trading fund in the United States alongside several other companies.
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