ProShares Is Not Launching an XRP Futures ETF on April 30

There has been a lot of buzz online this week about ProShares launching an XRP ETF on April 30. Some social media posts and reports claimed that the U.S.

This week, the cryptosphere was abuzz with anticipation for ProShares' upcoming launch of an XRP ETF on April 30. Several social media posts and reports claimed that the U.S. Securities and Exchange Commission (SEC) had greenlit the product and it would be going live this week.

However, a spokesperson from ProShares has since cleared up the confusion.

“ProShares does not have any ETF launches scheduled for Wednesday, April 30. We have no further news to share at this time,” the spokesperson said.

So what happened?

Well, it seems that people may have mixed up the “effective date” listed in a recent regulatory filing with the official launch date of the fund.

When a fund’s registration becomes “effective,” it means it has cleared one step with the SEC, but it doesn’t guarantee a launch on that date. The SEC could still object to the launch. A fund’s registration statement becoming effective is only one part of the process. It’s required before a launch, but it doesn’t confirm the exact timing or guarantee approval.

Earlier this month, the SEC approved the launch of two new Bitcoin futures ETFs from WisdomTree andוכר