Cryptocurrency Buzz: ProShares Clarifies XRP ETF Launch Date Rumors
XRP ETF Not Expected to Launch on April 30, According to Financial Expert
Let's separate fact from fiction when it comes to the alleged launch of ProShares' XRP ETFs.
ProShares Says "Hold Your Horses," No XRP ETF Launch Scheduled for April 30
In the midst of a flurry of gossips, ProShares swiftly squashed the rumors that they would be launching XRP ETFs on April 30. A ProShares spokesperson responded to queries from the media with a firm "no" regarding any XRP ETF launches scheduled for that particular date.
The company chose not to provide a timeline for future launches, merely mentioning that they currently had "no further news to convey." Market watchers, however, believe that investors can anticipate a launch in the short to medium term. The misconception arose from an April 15 regulatory filing that various news organizations erroneously interpreted as fresh.
XRP's Resilient Performance Despite the Speculation
Despite the uncertainty, XRP's price sailed steadily at $2.28, reflecting a 0.79% increase above its intraday low. The altcoin's 24-hour market cap swelled by almost a percent to $133.8 billion, accompanied by an increase of 27% in trading volume to $4.51 billion.
ProShares' Future XRP ETFs: Not Your Typical ETFs
The ETFs in question will not hold actual XRP tokens, as explained by Nate Geraci, President of The ETF Store. Instead, they will follow the crypto by employing futures contracts, offering investors an indirect exposure to the altcoin's price movements.
These ETFs will encompass leveraged and inverse versions, following in the footsteps of Teucrium, who recently introduced a 2x Long XRP ETF (XXRP) last month. The XXRP fund, with approximately $42.70 million in assets, employs swap agreements to provide twice the daily return of XRP.
SEC: Still Pondering Spot XRP ETF Applications
While futures-based products are moving forward, the Securities and Exchange Commission is still in a waiting game regarding any spot Ripple ETF proposals. Companies such as Grayscale, Bitwise, and Franklin Templeton continue to patiently await regulatory rulings on their applications.
The Likelihood of Ripple ETF Approval
As the chatter persists around ProShares' XRP ETFs, the possibility of an Ripple ETF approval in the current year has increased. Prediction market Polymarket puts the odds at 78%, up from 70% previously.
Featured image from Gemini Imagen, chart from TradingView
Editorial ProcessThe input includes information on ProShares' approval for three XRP futures-based ETFs in March 2025 [2][4] and the launch confirmation for upcoming ETFs pending operational readiness [1][4]. Awaiting regulatory decisions on applications like Grayscale’s [2][4] determines realistic timelines for spot XRP ETFs.
- Realistically, it might be possible to see the launch of ProShares' XRP ETFs in the short to medium term, despite the cancellation of the April 30 launch, as market watchers speculate.
- Unlike traditional ETFs, ProShares' future XRP ETFs will not directly hold XRP tokens; instead, they will use futures contracts to provide indirect exposure to the altcoin's price movements.
3.Teucrium, a company similar to ProShares, has already introduced a 2x Long XRP ETF (XXRP), which employs swap agreements to provide twice the daily return of XRP.
- Cryptocurrency investors and finance enthusiasts may want to consider diversifying their portfolio with cryptocurrencies like XRP, ETFs such as those offered by ProShares, or technology-focused investments, given the increasing likelihood of Ripple ETF approval in the current year.
