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 planned for Wednesday, April 30,” the corporate spokesperson answered journalists yesterday.
The firm made no touch upon a timeline for future attainable launches, aside from to say that they had “no further news to convey at this time.”
UPDATE: lots individuals posting/reporting that @ProShares might 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 consider they’ll launch — and sure launch within the quick or presumably medium time period.
— James Seyffart (@JSeyff) April 28, 2025
Image: Gemini Imagen
As market watchers clarify, though there isn’t any definitive date, traders can realistically anticipate a launch within the “short to medium term.” 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.
But a spokesperson advised me:
“ProShares does not have any ETF launches scheduled for Wednesday, April 30. We have no further news to share at this time.”
— Ben Strack 🟪 (@strack_ben) April 28, 2025
XRP’s worth has remained comparatively secure 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 virtually a p.c to $133.8 billion, with buying and selling quantity rising 27% to $4.51 billion.
Future-Based Products Arriving Rather Than Spot ETFs
The ETFs talked about is not going to be holding precise tokens of XRP, as expressed by Nate Geraci, President of The ETF Store. The merchandise will as an alternative observe the crypto by utilizing futures contracts, providing traders oblique publicity to the value motion of the altcoin.
Geraci stated the brand new ETFs will function each leveraged and inverse variations. This comes after Teucrium lately launched a 2x Long XRP ETF (XXRP) final month. The XXRP fund employs swap agreements to supply twice the each day return of XRP and at present holds round $42.70 million in property.
SEC Still Reviewing Spot XRP ETF Applications
While merchandise based mostly on futures advance, the Securities and Exchange Commission stays in wait-and-see mode concerning any spot Ripple ETF proposals. Firms equivalent to Grayscale, Bitwise, and Franklin Templeton proceed to await regulatory rulings on their submissions.
Source: Polymarket
Source: Market analysts have requested why the SEC seems extra relaxed with futures-based merchandise than spot ETFs. Regulatory specialists word that futures ETFs typically encounter fewer roadblocks within the approval course of than spot merchandise, that are subjected to extra stringent danger analyses.
Odds Of Approval
Meanwhile, the probabilities of a Ripple ETF approval within the present yr have risen 8% to 78%, based on prediction market Polymarket. This is whereas there was continued speak surrounding the ProShares XRP ETFs.
Featured picture from Gemini Imagen, chart from TradingView
Editorial Process for bitcoinist is centered on delivering completely researched, correct, and unbiased content material. We uphold strict sourcing requirements, and every web page undergoes diligent assessment by our group of high expertise specialists and seasoned editors. This course of ensures the integrity, relevance, and worth of our content material for our readers.
