ProShares Receives SEC Approval for Three XRP Futures ETFs, Launch Set for April 30
The U.S. Securities and Exchange Commission (SEC) has approved ProShares Trust's launch of three XRP futures-based exchange-traded funds (ETFs), scheduled to go live on April 30, 2025. These ETFs include the Ultra XRP ETF (2x leverage), Short XRP ETF (-1x leverage), and Ultra Short XRP ETF (-2x leverage).
(Crowdfund Insider)
Unlike spot ETFs, these futures-based products will provide investors with exposure to XRP's price movements through futures contracts, without directly holding the cryptocurrency. This development marks a significant step for XRP's integration into regulated financial markets.
(Coinpedia Fintech News)
The approval comes amid a broader shift in the SEC's approach to cryptocurrency, with increased openness to crypto-related financial products. XRP's price responded positively to the news, rising by 3.5% over the past 24 hours to $2.27.
(CryptoSlate)
ProShares' separate application for a spot XRP ETF remains under SEC review. Meanwhile, Brazil recently approved the first spot XRP ETF, indicating growing global acceptance of XRP-focused investment vehicles.