#XRPETFs XRPETFs
The U.S. Securities and Exchange Commission (US SEC) approved the launch of ProShares' futures exchange-traded funds (ETFs) on XRP on April 30, the company reported in a filing with the SEC. Here’s everything you need to know about XRP, the token producer Ripple, how futures ETFs will work, and other details.
When were futures ETFs on XRP proposed?
Proshares, which already offers a Bitcoin ETF, proposed the creation of three XRP-related ETFs in January — Ultra XRP ETF (with a 2x leverage), Short XRP ETF (with an inverse (-1x) leverage), and Ultra Short XRP ETF (with an inverse (-2x) leverage), according to a CryptoSlate report.
ProShares' futures ETFs on XRP will track the price of XRP on the XRP Index, the report added.
The proposal on January 17, 2025, came against the backdrop of the election of 'crypto-friendly' U.S. President Donald Trump, according to the report.
Are these the first ETFs related to XRP?
No, Teucrium's futures ETFs on XRP began trading on the New York Stock Exchange on April 8.
Meanwhile, ProShares has also filed for a spot XRP ETF, which is awaiting approval from the US SEC. A similar product from Hashdex — the world's first spot XRP ETF — was approved in Brazil last week.
What are futures ETFs? How will they work?
Futures-based ETFs provide access to the price movements of futures contracts on XRP and, unlike spot ETFs, will allow users to bet on the price of XRP without purchasing the token.
$XRP
