XRP news today: ProShares to Launch Three XRP Futures ETFs by April 30
1min read ProShares, a leading issuer of leveraged and inverse exchange-traded funds, is set to launch three new futures ETFs linked to XRP, Ripple’s native cryptocurrency, as early as April 30. This move is detailed in a post-effective amended prospectus filed on April 15. The proposed ETFs include the Short XRP ETF, designed to allow investors to profit from declines in XRP’s price; the Ultra XRP ETF, which aims to deliver approximately twice the daily return of XRP’s price movements; and the UltraShort XRP ETF, intended to provide approximately twice the inverse (-2x) of XRP’s daily performance.
ProShares initially filed for these XRP futures ETFs in January and indicated in the April prospectus that the filing is expected to become effective on April 30. The filing utilizes a procedural mechanism that allows the products to launch without requiring further substantive review or explicit reapproval from the SEC, provided no objections are raised before the effective date. However, actual trading may not commence immediately due to factors such as exchange readiness and other operational considerations.
Once launched, ProShares’ XRP futures ETFs will join the ranks of Teucrium Investment Advisors, the first fund manager to introduce a US-listed XRP ETF. Teucrium’s fund, the 2x Long Daily XRP ETF, seeks to deliver returns that are double the daily return of XRP through swap agreements. The launch of Teucrium’s fund coincided with a surge in investor demand for XRP, driven by regulatory developments favorable to the crypto industry, including the legal outcome between Ripple Labs and the SEC.
The SEC has delayed its decision on multiple spot XRP ETF applications, including those from major firms like Grayscale, Bitwise, and wisdomtree. This delay is considered a normal part of the agency’s review process for crypto spot ETFs and is not limited to XRP-linked products. Other ETFs tied to altcoins such as Solana, Dogecoin, and Litecoin are also currently pending.
ProShares Trust, based in Bethesda, Maryland, has been actively involved in offering investment products tied to cryptocurrencies. The funds are structured under a mutual fund framework and are registered in compliance with both the Securities Act and the Investment Company Act. The launch of these ETFs is a strategic move for proshares Trust, aligning with their efforts to provide innovative investment products in the digital assets sector. The funds are expected to attract significant institutional attention, offering a new way for investors to gain exposure to XRP through regulated financial instruments. This development is seen as a major step forward for XRP-focused investment vehicles within the U.S. regulated environment, providing more options for investors to access the cryptocurrency market.
Ask Aime: What can I do with ProShares' new XRP futures ETFs?
