ProShares to Launch Three XRP ETFs in U.S. Following SEC Approval

April 28, 2025 – In a significant development for cryptocurrency investors, ProShares, a leading issuer of exchange-traded funds (ETFs), has announced the upcoming launch of three XRP-tracked ETFs in the United States, set to go live on April 30. This move comes after the U.S. Securities and Exchange Commission (SEC) effectively provided tacit approval for these new financial products, marking an important milestone for the digital asset market.

New ETF Offerings

The three ETFs will include:

Ultra XRP ETF – This fund will use 2x leverage to amplify the performance of XRP, allowing traders to gain greater exposure to market movements.
Short XRP ETF – Designed for those looking to profit from declines in XRP’s value, this fund will enable investors to take short positions.
Ultra Short XRP ETF – Similar to the Short XRP ETF, this fund will employ -2x leverage, allowing investors to double down on their bearish bets against XRP.

While these ETFs are set to launch, there has been no notable progress on ProShares’ application for a spot XRP ETF. However, the SEC has acknowledged several other spot ETF applications related to XRP, with fund manager Grayscale’s submission facing a crucial decision deadline on May 22. ## Market Context and Regulatory Landscape

The launch of ProShares’ ETFs follows the recent conclusion of Ripple Labs’ lengthy legal battle with the SEC, which was resolved in March. The outcome of this litigation has alleviated considerable regulatory uncertainties surrounding XRP, paving the way for its integration into mainstream investment products.

Following the SEC’s tacit approval, the cryptocurrency market has shown signs of renewed interest. Earlier in the month, Teucrium launched the first XRP ETF, which achieved over $5 million in trading volume on its first day, making it the company’s most successful product debut to date.

Further reflecting the growing interest in XRP investment vehicles, the Chicago Mercantile Exchange (CME) Group recently announced the addition of XRP futures to its trading platform, slated for launch next month alongside Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) futures.

Conclusion

ProShares’ planned rollout of the three XRP ETFs is poised to provide investors with diverse opportunities to engage with the digital asset space, whether they favor bullish or bearish strategies. As the regulatory landscape continues to evolve favorably for cryptocurrencies, market participants are keenly anticipating how these new ETFs will perform in the coming months.

This development underscores the ongoing maturation of the cryptocurrency market and the increasing acceptance of digital assets within traditional financial frameworks. Investors interested in these ETFs will have the opportunity to navigate the market with more sophisticated tools at their disposal starting next week.