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The U.S. Securities and Exchange Commission (SEC) has approved the launch of ProShares exchange-traded funds linked to futures contracts for XRP.
Approval of futures contracts: The SEC has approved the launch of three ProShares ETFs that invest in XRP futures contracts, not in the spot XRP currency itself.
Launch date: These funds are expected to start trading on Wednesday, April 30, 2025.
Types of funds: The proposed funds include ProShares Ultra XRP ETF (symbol URP), which aims to achieve twice the daily return of XRP, and ProShares Short XRP ETF (symbol SRXP), which aims to achieve an inverse return (-1x) of the daily return of XRP, and ProShares UltraShort XRP ETF (symbol XXRP), which aims to achieve twice the inverse return (-2x) of the daily return of XRP.
Not spot funds: It is important to emphasize that these are not ETF funds that invest directly in the XRP currency (spot funds), but rather rely on XRP futures contracts.
Potential impact: This approval is seen as a positive step toward increasing institutional interest in XRP and may pave the way in the future for spot XRP ETFs after the conclusion of Ripple's case with the SEC.
