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 doable launches, aside from to say they’d “no additional information to convey at the moment.”
UPDATE: loads folks posting/reporting that @ProShares will likely 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’ll launch — and certain launch within the quick or probably medium time period.
— James Seyffart (@JSeyff) April 28, 2025
Picture: Gemini Imagen
As market watchers clarify, though there is no such thing as a definitive date, traders can realistically anticipate a launch within the “quick 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 will have seen headlines about ProShares XRP ETFs launching this week.
However a spokesperson advised me:
“ProShares doesn’t have any ETF launches scheduled for Wednesday, April 30. We’ve got no additional information to share at the moment.”
— 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 Relatively 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 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 characteristic each leveraged and inverse variations. This comes after Teucrium lately launched a 2x Lengthy XRP ETF (XXRP) final month. The XXRP fund employs swap agreements to supply twice the every day return of XRP and at present holds round $42.70 million in property.
SEC Nonetheless Reviewing Spot XRP ETF Purposes
Whereas merchandise primarily based on futures advance, the Securities and Alternate Fee stays in wait-and-see mode relating to any spot Ripple ETF proposals. Corporations similar 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 consultants be aware 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
In the meantime, the probabilities of a Ripple ETF approval within the present 12 months 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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