#XRPETFs
ProShares is set to launch 3 XRP ETFs
After obtaining approval from the Securities and Exchange Commission (SEC), fund manager ProShares will launch 3 new ETFs on Ripple's XRP on April 30.
Thus, these ETFs will revolve around 3 different strategies:
Ultra XRP ETF, which consists of a long position with 2x leverage;
Short XRP ETF, which shorts XRP without leverage;
Ultra Short XRP ETF, which shorts XRP with 2x leverage.
As we might have suspected, these are not XRP spot ETFs, as the latter are still awaiting SEC approval.
Thus, this launch not only echoes the arrival of XRP futures at the Chicago Mercantile Exchange (CME), but also Teucrium's ETF, which kicked things off at the beginning of the month, with 2x leverage exposure on XRP.