#XRPETFs The United States Securities and Exchange Commission (US SEC) has approved ProShares' launch of XRP futures exchange-traded funds (ETFs) on April 30, the company said in a filing with the SEC. Here is all you need to know about XRP, the token's maker Ripple, how the futures ETFs will work, and other details.
When was the XRP futures ETFs Proposed?
Proshares, which already offers Bitcoin ETFs, in January proposed the formation of three XRP linked ETFs — the Ultra XRP ETF (with 2x leverage), the Short XRP ETF (with inverse (-1x) leverage), and the Ultra Short XRP ETF (with inverse (-2x) leverage), according to a report by CryptoSlate.
ProShares' XRP Futures ETFs will track XRP price on the XRP Index, the report added.
The proposal on January 17, 2025, came in the wake of “crypto-friendly” US President Donald Trump's election, it said.
Are These The First XRP linked ETFs?
No, Teucrium's XRP futures ETFs began trading on the New York Stock Exchange on April 8.
Meanwhile, ProShares has also applied for a XRP Spot ETF, which is pending for approval with the US SEC. A similar product by Hashdex — the world's first spot XRP ETF — was approved in Brazil last week
What Are Futures ETFs? How Will These Work?
A futures-based ETF provides exposure to the price movements of XRP futures contracts and unlike a spot ETF, would allow users to place bets on XRP's price without buying the token.
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