ProShares Trust to Launch XRP ETFs on April 30 on SEC Approval

ProShares Trust, a popular investment company, is set to launch its XRP Exchange Traded Funds (ETF) offerings this April. As revealed in a recent filing, the U.S. Securities and Exchange Commission (SEC) has officially approved the initiative. This development marks a big step for ProShares as it expands its crypto-based investment products. The XRP ETF will give investors a new way to gain exposure to XRP without directly buying the token. Structure of ProShares’ Upcoming XRP ETFs According to the filing, ProShares Trust will offer several XRP-focused ETFs, including the ProShares UltraShort XRP ETF, ProShares Ultra XRP ETF, and ProShares Short XRP ETF. It is important to note that the incoming XRP ETFs do not get the same direct approval from the SEC as spot ETFs. Instead, they can become effective if the SEC does not raise objections within a certain period. The filing confirms that ProShares chose April 30, 2025, as the official launch date. Notably, there was no request for immediate effectiveness at the time of filing. The registration papers show that the XRP ETFs are built under a mutual fund framework and follow the Securities Act and the Investment Company Act rules. ProShare Advisors LLC, based in Bethesda, Maryland, will be the investment advisor. Richard Morris is listed as the agent for service, and Dechert LLP in New York will provide the legal support for the funds. ProShares Trust is known for offering investment products linked to digital assets. This new move aligns with its broader strategy to expand into the crypto sector. Many Still Await The Approval Of Spot XRP ETF The crypto community is still anticipating the approval of a spot XRP ETF. Nevertheless, the ProShares XRP ETFs will provide investors with leveraged and inverse exposure to XRP’s price movements. This means investors can benefit from both the rise and fall of XRP prices through regulated financial products. Market participants hope that the success of ProShares’ soon-to-launch funds will bring more momentum toward approving a spot XRP ETF soon. Since the Brazilian regulatory agency became the first to approve spot XRP ETFs , many hope the United States authorities will follow suit. Despite many crypto-focused ETFs under review, analysts believe XRP may soon become the third cryptocurrency in the U.S. to get a spot ETF approval, following Bitcoin (BTC) and Ethereum (ETH). XRP Market Reaction Following the SEC’s approval of ProShares Trust’s XRP ETFs, XRP experienced a notable surge in market activity. According to CoinMarketCap data, XRP is up by 0.98%, trading at $2.22. This uptick reflects heightened investor interest in XRP exposure through regulated financial products. The post ProShares Trust to Launch XRP ETFs on April 30 on SEC Approval appeared first on TheCoinrise.com .

Source: The Coin Rise