#XRPETFs
XRP ETFs launch this week, but they’re not the ones traders are waiting on
ProShares will launch three leveraged and inverse XRP ETFs this week.
Futures-based XRP ETFs are moving forward while spot funds are still pending.
XRP's price surged 7% following the news.
Three XRP exchange-traded funds will hit the market this week, but they aren’t the ones traders are banking on to unleash a wave of trades.
ProShares will launch the ProShares Ultra XRP ETF, ProShares UltraShort XRP ETF, and ProShares Short XRP ETF on Wednesday after filing an update with the Securities and Exchange Commission.
“This is not a spot XRP ETF,” Nate Geraci, president of ETFStore, tweeted. “It’s several leveraged and inverse ETFs obtaining XRP exposure via derivatives.”
While XRP’s price popped more than 7% over the past 24 hours following the news, traders await news about whether or not the SEC will approve a wave of spot XRP ETFs that have flooded the agency this year, and potentially unleash a $8 billion bonanza.
Credits: DLnews.com