U.S. SEC, ProShares XRP Futures ETF Approval…Listing On April 30

The U.S. Securities and Exchange Commission (SEC) has approved the launch of three XRP futures-based Exchange Traded Funds (ETFs) by ProShares. According to The Block, ProShares plans to introduce the Ultra XRP ETF (2x leverage), Short XRP ETF, and Ultra Short XRP ETF (-2x leverage) to the market starting April 30. With this approval, ProShares has become the second, third, and fourth XRP ETF issuer in the United States. However, ProShares' application for a spot-based XRP ETF has not yet been approved. Earlier, Teucrium launched the first U.S. XRP ETF this month, and a Bloomberg analyst noted that it is highly unusual for the first ETF of a new asset to be a leveraged product and positively assessed the possibility of spot XRP ETF approval. Meanwhile, the CME Group is also reportedly preparing to list XRP futures.