The U.S. Securities and Exchange Commission (SEC) has just approved ProShares Trust's proposal to launch futures-based ETF funds related to XRP, marking an important step in expanding investment products related to altcoins in general and XRP in particular.

However, the approved products do not include spot XRP ETF funds, focusing instead on futures-based funds.

The effective date for these funds is set for April 30, 2025.

The ETFs approved by the SEC include:

- ProShares UltraShort XRP ETF: Provides inverse exposure with leverage, allowing investors to benefit from a bearish trend in XRP.

- ProShares Ultra XRP ETF: Aims to amplify profits based on the price volatility increase of XRP futures.

- ProShares Short XRP ETF: Designed to profit when the price of XRP falls, suitable for contrarian investment strategies.

This approval reflects the SEC's cautious approach to cryptocurrency products, prioritizing futures-based funds over spot funds due to the greater transparency and stricter regulations of the futures market.