๐ Major Announcement for XRP: SEC Approves ProShares' XRP Futures ETFs
โ Approval: The SEC has granted ProShares permission to launch three XRP futures-based ETFs: Ultra XRP ETF (โก 2x leverage), Short XRP ETF (๐ -1x inverse), and Ultra Short XRP ETF (๐๐ -2x inverse), which will start on April 30.
๐ฐ Background: This decision came after the launch of Teucrium's XRP futures ETF. ProShares' ETFs provide investors the opportunity to benefit from price increases ๐ or decreases ๐ in XRP without having to buy XRP, only through futures contracts.
๐ค Ripple and SEC Settlement: Relations between Ripple and the SEC have improved. The SEC has withdrawn its appeal ๐ฏ and is now moving towards a major settlement regarding crypto regulations.
๐ Market Reactions: The price of XRP reached $2.28 ๐ following this news, outperforming the entire crypto market ๐.
๐ฎ Future Outlook: Experts view this as a significant step for altcoin ETFs ๐. Although the spot XRP ETF is still pending โณ, the futures approval boosts optimism, but investors should exercise caution due to leveraged risks โ ๏ธ.