The ProShares’ XRP futures ETFs are not launching on April 30, according to April 28 confirmation by a Bloomberg ETF analyst, James Seyffart. They are coming in the short term or medium term, but there has not been a specified date yet.
The U.S. Securities and Exchange Commission (SEC) has already approved the ETFs, but the lack of a launch date keeps investors in suspense. Seyffart puts an end to speculation on a late-April launch.
The ETFs are aimed at institutional investors that seek regulated exposure to price fluctuations in XRP. The futures-backed funds enable trading without direct exposure to the digital asset. Such a structure mitigates risks based on custody, security, and compliance.
ProShares has planned to introduce three XRP futures ETFs. They include Ultra XRP, offering 2x leverage. Short XRP offers -1x inverse exposure, whereas Ultra Short XRP offers -2x inverse exposure.
The SEC approved finalization earlier this year. That move was made as interest in cryptocurrency-related funds increased.
ProShares’ three ETFs are set to follow Teucrium’s XRP futures ETF, launched on April 8. Teucrium’s offering was listed on the NYSE and experienced strong volume on the first days of trading.
ProShares files spot XRP ETF application
However, these new ETFs are set to become the second, third, and fourth funds linked to XRP in the United States. They seek to bring more institutional exposure to XRP, a token frequently employed in cross-border transactions.
ProShares also applied for a spot XRP ETF. Seven other companies made equivalent filings. They all made it through April’s first decision points without SEC action.
There are later deadlines in late May. Some, like Grayscale’s and 21Shares’, have October final deadlines.
JPMorgan analysts estimate that XRP-backed exchange-traded products may capture $4 to $8 billion in net inflows. They base their projections on the performance of currently listed Bitcoin- and Ethereum-backed ETFs.
With growing investor appetite and regulatory traction, things are looking rosy for XRP ETFs in the future. For now, ProShares, as well as its investors, have to wait for a confirmed listing date, though.
As cryptocurrency products become more mainstream, market players closely monitor ETF approvals. For XRP, the coming months will be crucial in deciding how and when these funds will change things around.
