The U.S. Securities and Exchange Commission (US SEC) has approved ProShares to launch an exchange-traded fund for XRP futures (ETFs) on April 30, the company said in a filing with the SEC. Here’s everything you need to know about XRP, the token producer Ripple, how futures ETFs work, and other details.

When are the proposed XRP futures ETFs?

ProShares, which has provided Bitcoin ETFs, proposed the establishment of three XRP-linked ETFs in January — the Ultra XRP ETF (with 2x leverage), the Short XRP ETF (with inverse leverage (-1x)), and the Ultra Short XRP ETF (with inverse leverage (-2x)), according to a report from CryptoSlate.

ProShares' XRP futures ETFs will track the price of XRP on the XRP Index, the report added.