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The U.S. Securities and Exchange Commission (SEC) approved the launch of three exchange-traded funds (ETFs) based on XRP futures by ProShares Trust on April 30, according to a report filed with the SEC. On January 17, days before the inauguration of President Donald Trump, now favorable to cryptocurrencies, ProShares proposed the following ETFs:

Ultra XRP ETF, which will provide 2x leverage

Short XRP ETF, which will provide inverse leverage (-1x)

Ultra Short XRP ETF, which will provide inverse leverage (-2x)

These will be the second, third, and fourth XRP-related ETFs to be launched in the U.S. On April 8, the first XRP futures ETF from Teucrium began trading on the New York Stock Exchange (NYSE) and saw an "excellent response."

However, it is important to note that a futures-based ETF offers exposure to the price fluctuations of XRP futures contracts. In other words, ProShares' ETFs will replicate the price of XRP through the XRP index. This means that, unlike a spot ETF, which would require the purchase of XRP tokens, a futures ETF for XRP allows you to bet on the price of XRP without actually holding the token itself.

ProShares' standalone application for spot XRP ETFs is still pending with the SEC. However, while the U.S. hesitates, Hashdex's first spot XRP ETF began trading in Brazil earlier this week.

However, the importance of launching these XRP futures ETFs should not be underestimated. These products will offer a regulated way to benefit from the price fluctuations of XRP, opening the doors to institutional interest.

Impact on XRP Price

The approval of the futures ETF had a positive impact on the price of XRP, which rose by 3.5% in the last 24 hours, reaching 2.27 $ at the time of writing this article, according to data from CryptoSlate. The market capitalization of XRP now exceeds $312 billion.