Cryptocurrency traders scratched their heads final week after unsubstantiated rumors went round ProShares launching XRP ETFs on April 30.
Bloomberg ETF analyst James Seyffart intervened to dispel the misinformation by assuring that no official launch date has been scheduled.
ProShares: No Plans For April 30 Launch
ProShares has “no ETF launches deliberate for Wednesday, April 30,” the corporate spokesperson answered journalists yesterday.
The corporate made no touch upon a timeline for future attainable launches, aside from to say they’d “no additional information to convey right now.”
UPDATE: rather a lot individuals posting/reporting that @ProShares will probably be launching XRP ETFs on April thirtieth. We’ve confirmed that’s not the case. We don’t have a confirmed launch date but however we imagine they are going to launch — and certain launch within the brief or presumably medium time period.
— James Seyffart (@JSeyff) April 28, 2025
Picture: Gemini Imagen
As market watchers clarify, though there isn’t a definitive date, traders can realistically anticipate a launch within the “brief to medium time period.” The confusion originated from an April 15 regulatory submitting that a number of information organizations in error described as new.
You might have seen headlines about ProShares XRP ETFs launching this week.
However a spokesperson informed me:
“ProShares doesn’t have any ETF launches scheduled for Wednesday, April 30. We have now no additional information to share right now.”
— Ben Strack 🟪 (@strack_ben) April 28, 2025
XRP’s value has remained comparatively steady regardless of the confusion, buying and selling at $2.28 with a 0.79% rise above its intraday low. Market statistics point out that the altcoin’s 24-hour market cap grew by nearly a p.c to $133.8 billion, with buying and selling quantity rising 27% to $4.51 billion.
Future-Based mostly Merchandise Arriving Quite Than Spot ETFs
The ETFs talked about won’t be holding precise tokens of XRP, as expressed by Nate Geraci, President of The ETF Retailer. The merchandise will as a substitute comply with the crypto by utilizing futures contracts, providing traders oblique publicity to the worth motion of the altcoin.
Geraci stated the brand new ETFs will characteristic each leveraged and inverse variations. This comes after Teucrium just lately launched a 2x Lengthy XRP ETF (XXRP) final month. The XXRP fund employs swap agreements to offer twice the every day return of XRP and presently holds round $42.70 million in belongings.
SEC Nonetheless Reviewing Spot XRP ETF Functions
Whereas merchandise based mostly on futures advance, the Securities and Alternate Fee stays in wait-and-see mode concerning any spot Ripple ETF proposals. Companies corresponding to Grayscale, Bitwise, and Franklin Templeton proceed to await regulatory rulings on their submissions.
Supply: Polymarket
Market analysts have requested why the SEC seems extra comfy with futures-based merchandise than spot ETFs. Regulatory specialists word that futures ETFs usually encounter fewer roadblocks within the approval course of than spot merchandise, that are subjected to extra stringent danger analyses.
Odds Of Approval
In the meantime, the possibilities of a Ripple ETF approval within the present yr have risen 8% to 78%, in keeping with prediction market Polymarket. That is whereas there was continued speak surrounding the ProShares XRP ETFs.
Featured picture from Gemini Imagen, chart from TradingView
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