ProShares Will Launch Three XRP-Tracked ETFs This Week After Tacit SEC Approval

In a swift move following the U.S. Securities and Exchange Commission’s (SEC) tacit approval, exchange-traded funds (ETF) issuer ProShares will introduce three XRP-tracked products this week.

Its approvals for an Ultra XRP ETF (2x leverage), a Short XRP ETF and an Ultra Short XRP ETF (-2x leverage) come after the SEC had shot down several attempts to launch a Bitcoin ETF in the past seven years.

The regulator also approved several XRP spot ETF applications, setting a May 22 deadline for Grayscale's filing of the SEC Chair's decision.

ProShares’ approvals come after Monero integrators began preparations for U.S. ETF launches last month, while the applications were initially made in December.

The filings come a few weeks after Teucrium's 2x XRP ETF started trading earlier this month, marking the first such product in the U.S. It saw over $5 million in trading volumes on the first day, making it the firm's "most successful" launch to date.

Earlier this month, CME Group also added XRP futures to its largest derivatives exchange in the U.S. for launch next month, alongside BTC, ETH and SOL products.

The move comes after closely related company Ripple's long-standing court battle against the SEC over the token was fully concluded in March, clearing extensive regulatory headwinds for the tokens.