XRP news today: ProShares to Launch Three XRP ETFs on April 30
1min read ProShares, a prominent issuer of exchange-traded funds (ETFs), is poised to introduce three XRP ETFs on April 30, following the green light from the U.S. Securities and Exchange Commission (SEC).
The new ETFs, as detailed in an official Form N-1A filing, include the Short XRP ETF, Ultra XRP ETF, and UltraShort XRP ETF. Each of these products offers a distinct leverage option, providing traders with a range of choices to engage with XRP-backed futures set to commence trading on the specified date.
The Ultra XRP ETF provides 2x leverage, while the UltraShort XRP ETF offers an inverse leverage of -2x. Additionally, the Short XRP ETF will provide an inverse leverage of -1x. These future-based ETF products allow traders to gain exposure to futures contracts that track the price movements of XRP through an index, eliminating the need for direct ownership of XRP tokens.
This development comes just days after the first XRP ETF began trading on the market. Earlier this month, on April 8, Teucrium became the first firm to receive U.S. SEC approval to launch their XRP ETF on the New York Stock Exchange.
ProShares also has a separate filing for spot XRP ETFs, which is currently under review by the SEC. The approval of ProShares’ XRP ETFs indicates a growing institutional interest in XRP, driven in part by the token’s inclusion in the Trump administration’s crypto reserve. Several asset managers, including Franklin Templeton, Canary Capital, wisdomtree, Bitwise, CoinShares, and 21Shares, have also applied for institutional investment products associated with XRP.
The SEC has thus far approved only Teucrium and ProShares’ XRP ETF applications. Last month, the financial agency decided to postpone the decision on Grayscale’s XRP ETF application, citing the need for more time to review the proposal. This delay underscores the regulatory scrutiny and careful consideration involved in approving such financial products.
