ProShares has filed to launch three XRP futures ETFs, with a planned debut by April 30.
By Godfrey Benjamin
Editor Julia Sakovich
Updated
3 mins read
According to a new filing with the US Securities and Exchange Commission (SEC), ProShares is preparing to launch three XRP futures-based ETFs. The move comes as interest in XRP continues to grow, especially after Ripple‘s settlement with the SEC, which removed a major legal hurdle for the third-largest digital currency.
According to the filing with the SEC, ProShares intends to roll out three new funds: the ProShares UltraShort XRP ETF, the ProShares Ultra XRP ETF, and the ProShares Short XRP ETF.
It is worth noting that these products will not hold XRP directly. However, the fund will use futures contracts and swap agreements to track the digital currency’s price movements.
This move follows the April 9 launch of the Teucrium 2x Long Daily XRP ETF, the first XRP-based fund in the United States. The Teucrium ETF made headlines for recording one of most active first-day trading among newly launched funds this year, signaling deep interest from investors.
According to the filing, ProShares aims to launch by April 30. The timing is significant, as more asset managers are beginning to develop financial products tied to XRP. This interest has grown following Ripple’s recent legal progress with the SEC.
In line with these moves, crypto data provider Kaiko recently flagged XRP as the leading altcoin candidate for a spot ETF in the US market. According to Kaiko, growing spot trading volume in the US and the rise of leveraged funds suggest that the asset is maturing and could soon meet the standards for a spot ETF.
Kaiko’s report pointed out that leveraged ETFs are already being approved. These funds rely on swap agreements and exposure to foreign markets. Based on this perception, it is becoming harder to justify the rejection of a spot XRP product.
The timing of ProShares’ filing follows a period of high momentum for XRP XRP $2.06 24h volatility: 0.4% Market cap: $120.21 B Vol. 24h: $1.76 B . In an earlier update, Coinspeaker noted that Ripple Labs locked 700 million XRP in escrow shortly after its legal dispute with the SEC ended. This move was seen by many as a signal of stability and long-term planning by Ripple.
Per the market-making trends, on-chain activity revealed that Ripple Labs moved 200 million XRP to one of its internal wallets recently. This sparked speculation across the XRP community, with many viewing it as a possible trigger for a selloff.
Still, a recent report shows that XRP led weekly inflows among all alternative cryptocurrencies. This happened as broader crypto investment products saw outflows topping $795 million in the past week.
In prediction markets, sentiment around XRP remains bullish. On Polymarket, many traders have placed their bets on a spot XRP ETF approval before the end of the year. Analysts believe it could attract over $8 billion in capital from institutional investors if this happens.
ProShares’ entry into the XRP ETF race pressures regulators to respond. As more financial firms line up to offer exposure to the asset, XRP’s case as a regulated and investable product grows stronger.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
