ProShares plans to launch three new futures exchange-traded funds (ETFs) based on the cryptocurrency XRP on April 30, 2025. This will keep the attention of investors and traders, as the launch will occur after receiving “silent approval” from the U.S. Securities and Exchange Commission (SEC). At the same time, the regulator has not provided any official comments regarding spot XRP ETFs, leaving the question of their potential approval in the future open.
This is reported by Business • Media
The new ETFs cover three types: Ultra XRP ETF (with 2x leverage), Short XRP ETF, and Ultra Short XRP ETF (with -2x leverage). All of them provide the opportunity to gain exposure to XRP through derivatives, allowing traders and investors to speculate on the cryptocurrency’s price fluctuations without the need for direct ownership. A distinctive feature of the last ETF is its inverse nature, meaning its value changes in the opposite direction to the price of the underlying asset.
International Experience with XRP ETF Launch and Expert Reactions
Previously, a futures XRP ETF from Teucrium had already been introduced in the American market. ETF investment expert Nate Geraci commented on the situation, stating:
“This is not a spot XRP ETF. These are several leveraged and inverse ETFs that gain exposure to XRP through derivatives. Additionally, a 2x XRP ETF (XXRP) is already trading. Why does the regulator allow these products before spot ones? That’s a good question.”
The reaction of the XRP coin to the news was quite positive — its price increased by 3.7% within a day. On the Binance exchange, the XRP/USDT rate shows an increase, indicating investor interest in new financial instruments involving cryptocurrency. Meanwhile, the SEC continues to refrain from making a final decision regarding spot XRP ETFs and has postponed the deadline for most applications to the end of May 2025.