#XRPETFs

3 new XRP ETFs will be launched this week

These investment funds will allow various trading and investment strategies with Ripple's cryptocurrency.

The American company ProShares, a fund manager, will launch on April 30 three futures-based ETFs for the cryptocurrency XRP (XRP), issued by Ripple Labs.

The funds are named Ultra XRP ETF, Short XRP ETF, and Ultra Short XRP ETF. The first has a 2x leverage on the price of XRP; the second is an "inverse ETF" that increases in price when XRP decreases, and vice versa; and the third follows the same dynamics as the second but with a 2x leverage.

As CriptoNoticias has reported, there is already a futures ETF for XRP in the US market. There is also a spot ETF in Brazil. Additionally, ProShares has submitted a request to launch a spot XRP ETF in the United States. That request is awaiting approval (or rejection) from the Securities and Exchange Commission (SEC).

While all this is happening, Ripple's cryptocurrency is showing positive behavior. As can be seen in the following image, XRP has risen more than 7% in the last week:

Beyond its fundamental factors, the price of XRP (like all altcoins) is largely determined by what Bitcoin (BTC) does. For XRP to continue its rise, it will be important for Bitcoin to also remain on the rise. At the time of this publication, Bitcoin is trading at a price close to $94,000, as shown by the CriptoNoticias Calculator.