The U.S. Securities and Exchange Commission (SEC) has given the green light to ProShares to launch XRP futures exchange-traded funds (ETFs), marking a major milestone for the XRP community just weeks after Ripple’s legal battle with the SEC concluded.
ProShares, well-known for its Bitcoin-linked ETF offerings, will debut three XRP futures products on April 30: the Ultra XRP ETF, offering 2x leveraged exposure to XRP prices; the Short XRP ETF, providing -1x inverse exposure; and the Ultra Short XRP ETF, delivering -2x inverse leverage. All three funds will track XRP’s performance via the XRP Index, according to regulatory filings.
While this approval is limited to futures-based ETFs, it signals growing momentum for XRP in the financial markets. The SEC is still reviewing several spot XRP ETF applications, with Grayscale’s proposal facing a key decision deadline on May 22.
ProShares first proposed the XRP futures ETFs in January 2025, soon after Donald Trump, seen as more crypto-friendly, returned to the White House. Ripple’s court victory in March, which cleared significant regulatory hurdles for XRP, further fueled the rush toward new crypto investment vehicles.
ProShares’ move follows the recent success of Teucrium, which launched the first 2x XRP futures ETF in the U.S. just weeks ago. Teucrium’s product drew over $5 million in trading volume on its opening day, setting a new record for the company’s ETF launches.
Meanwhile, CME Group—the largest U.S. derivatives exchange—has expanded its crypto offerings by adding XRP futures alongside its existing Bitcoin, Ethereum, and Solana products. The addition underscores growing institutional confidence in XRP as regulatory uncertainties begin to fade.
While the futures market is gathering steam, investors are closely monitoring the SEC’s decisions regarding spot XRP ETFs. A spot ETF would allow investors to buy XRP directly through traditional stock exchanges, a development the crypto community has long anticipated.
For now, traders will soon have new opportunities to bet for or against XRP’s price movements when ProShares’ futures ETFs hit the market on April 30.
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