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ProShares's futures-based XRP ETF that offers 2X leverage could go live in the U.S. as soon as next week.
As reported by U.Today, ProShares revealed that it had picked April 30 as its target date for the launch of the product earlier this month.
The firm has likely received the green light to proceed with the launch on the aforementioned date given that there was no formal objection from the SEC during the review period.
On top of that, ProShares will go live with short and ultra-short leveraged XRP ETFs.
Gamza KhanzadaevIt is important to note that such ETFs don't get the same stamp of approval from the SEC as spot products do. They only go into effect if the agency doesn't object within a certain time period after filing. The filing shows that no immediate effectiveness upon filing was selected, with April 30, 2025, chosen for the effective date.
The Trust’s principal executive offices are located in Bethesda, Maryland, with ProShare Advisors LLC serving as the investment advisor. Richard Morris of ProShare Advisors is listed as the agent for service, supported by legal counsel from Dechert LLP in New York.
This launch is a strategic move for ProShares Trust into the digital assets sector, which lines up with the firm's efforts to offer 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.
Arman ShirinyanThe ProShares XRP ETFs are set to provide leveraged and inverse exposure to the price movements of XRP, offering investors more options to access the popular alternative cryptocurrency through regulated financial products.
This isn't a spot ETF offering for XRP, though, which a lot of enthusiasts are still waiting for. Market participants are now looking toward the April 30 launch as a big development for XRP-focused investment vehicles within the U.S. regulated environment.
Vladislav Sopov
Dan Burgin