The Bloomberg ETF analyst James Seyffart publicly stated on April 28, that XRP futures exchange-traded funds by ProShares will unfortunately not launch this months. However, the SEC has approved it. Furthermoe, The SEC sanctioned these products yet they wait to start their planned launch.
ETF Product Details
The regulatory approval allows ProShares to proceed with offering three XRP futures-based ETFs which utilize diverse investment methods. Among the ProShares XRP ETF offerings stand three funds including the Ultra XRP ETF with 2x leverage and the Short XRP ETF with -1x inverse exposure and the Ultra Short XRP ETF which provides -2x inverse exposure. The financial products target investment funds which want to trade XRP prices through regulated mechanisms rather than buying XRP directly.
Market Context
The ProShares products launched recently to trade alongside the Teucrium XRP futures ETF that started on the New York Stock Exchange with positive trading volumes. These ETFs provide financial institutions an alternative access to crypto exposure while helping them solve issues related to self-custody.
Pending Applications
ProShares has stated that I will continue to pursuing a spot XRP ETF. This is alongside 8 pending applications simultaneously. The majority of the pending applications have received a deadline expected in late May. Multiple applications such as Grayscale and 21Shares need to meet deadline requirements that stretch until mid-October.
Launch Delay Confirmed
On another note, JPMorgan has forecasted XRP’ ETP to attract approximately between 4-8 Billion. Dollars. This forecast is based on the successful performance of the BTC and ETH etc Inlfows in 2024 and 2025. ProShares must wait longer before entering the market because SEC regulations continue to advance digital asset financial products. Alongside Bitcoin and Ethereum which signifies the market’s growing acceptance of institutional participation.
