ProShares Plans to Launch Three XRP Futures ETFs

Recently, several crypto media outlets mistakenly reported that the SEC had approved ProShares’ XRP ETFs for an April 30 launch.

Recently, several crypto media outlets mistakenly reported that the U.S. Securities and Exchange Commission (SEC) had approved ProShares’ XRP ETFs for an April 30 launch.

The confusion arose from an old filing dated April 15, which resurfaced online and was incorrectly shared as a new development.

Rumors flew quickly across social media, but ProShares did not make any official announcement.

However, according to Bloomberg ETF analyst James Seyffart, while the SEC has indeed given its approval for the ProShares products, the launch date has been pushed back and is now expected sometime in the short to medium term.

Moreover, Brazil has already taken the lead by approving the first XRP ETF.

ProShares is gearing up for major XRP futures products. The company is planning to launch three XRP futures ETFs:

* ProShares Short-Term/Near-Term Triple-Leveraged XRP Futures ETF

* ProShares Short-Term/Near-Term Double-Leveraged XRP Futures ETF

* ProShares Short-Term/Near-Term XRP Futures ETF

These products are designed for institutional investors who want to invest in XRP futures contracts in a structured and regulated manner.

The products will provide investors with leveraged and unleveraged exposures to the daily price movements of XRP futures.

Futures ETFs help institutional investors bypass many of the security and regulatory hurdles typically associated with direct crypto ownership.

Earlier this month, Teucrium launched the first XRP futures ETF on the New York Stock Exchange. The fund is now trading under the ticker "IXRP."

The Teucrium product, named the Teucrium Cryptocurrency (PYL) Trust, is an unleveraged and inversely rolling XRP futures ETF.

The ETF tracks the price movements of XRP futures contracts, which are bought and sold in the futures market, not the cryptocurrency exchange.

The Teucrium fund is designed to provide investors with broad exposure to the XRP futures market. It aims to achieve this by investing in a portfolio of liquid XRP futures contracts that are typically used by large institutional investors.

From day one, the fund saw good trading volumes, signaling strong market appetite for XRP-based investment vehicles.

While futures ETFs are gaining momentum, spot XRP ETFs are still pending regulatory approval.

Several firms, including ProShares, Grayscale, and 21Shares, are applying for spot XRP ETFs, which would allow investors to invest in XRP in a simple and familiar manner, similar to investing in stocks or bonds.

After facing initial delays in April, most applications are now looking toward a second decision window by late May. Some cases may not see a final verdict until mid-October.

Despite the uncertainty, optimism is building. JPMorgan estimates that XRP ETPs could attract between $4 billion and $8 billion in net inflows if they achieve adoption rates similar to Bitcoin and Ethereum ETFs.