ProShares has picked May 14 as a new target date for the launch of its futures-based products, according to a new post-effective amendment.
As reported by U.Today, an earlier filing indicated that the ETFs could go live on April 30.
Last week, multiple media outlets and prominent social media influencers erroneously reported that the products had obtained the U.S. Securities and Exchange Commission's tacit approval to debut on the aforementioned date. The fake news spread like wildfire, likely leading to a short-lived XRP price spike.
However, it was later confirmed that this is not the case. As reported by U.Today, it is not clear when the ETF products will actually launch.
The most recent amendment also does not mean that the ETF has already been approved for launch on May 14 since this is merely a procedural update. That said, the products are expected to eventually launch in the short to medium term.
ProShares has also filed for a spot ETF in the U.S. alongside several other firms.
Vladislav Sopov
Dan Burgin