#XRPETFs

The U.S. Securities and Exchange Commission (SEC) has approved three XRP (XRP) cryptocurrency exchange-traded funds (ETFs) to be issued by ProShares.

Privately held ProShares, which focuses exclusively on ETFs, says it plans to introduce three XRP-tracked products in the coming week after receiving regulatory approval. The company will launch an Ultra XRP ETF (2x leverage), a Short XRP ETF, and an Ultra Short XRP ETF (-2x leverage).

However, the SEC has yet to approve applications from ProShares, and others, to launch a spot XRP ETF. Fund manager Grayscale’s filing for a spot XRP ETF that would track the price movements of the cryptocurrency faces a May 22 deadline for the SEC to render a decision.