Cryptocurrency buyers 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 attainable launches, apart from to say that they had “no additional information to convey right now.”
UPDATE: rather a lot individuals posting/reporting that @ProShares will probably 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 brief or probably medium time period.
— James Seyffart (@JSeyff) April 28, 2025
Picture: Gemini Imagen
As market watchers clarify, though there isn’t any definitive date, buyers can realistically anticipate a launch within the “brief 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 have now no additional information to share right now.”
— Ben Strack (@strack_ben) April 28, 2025
XRP’s worth 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 % to $133.8 billion, with buying and selling quantity rising 27% to $4.51 billion.
Future-Primarily based Merchandise Arriving Slightly 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 through the use of futures contracts, providing buyers oblique publicity to the worth motion of the altcoin.
Geraci stated the brand new ETFs will characteristic each leveraged and inverse variations. This comes after Teucrium not too long ago launched a 2x Lengthy XRP ETF (XXRP) final month. The XXRP fund employs swap agreements to supply twice the day by day return of XRP and at present holds round $42.70 million in property.
SEC Nonetheless Reviewing Spot XRP ETF Functions
Whereas merchandise based mostly on futures advance, the Securities and Trade Fee stays in wait-and-see mode relating to any spot Ripple ETF proposals. Corporations akin to Grayscale, Bitwise, and Franklin Templeton proceed to await regulatory rulings on their submissions.
Supply: PolymarketMarket analysts have requested why the SEC seems extra comfy with futures-based merchandise than spot ETFs. Regulatory consultants observe that futures ETFs typically encounter fewer roadblocks within the approval course of than spot merchandise, that are subjected to extra stringent threat analyses.
Odds Of Approval
In the meantime, the possibilities of a Ripple ETF approval within the present yr have risen 8% to 78%, in keeping with prediction market Polymarket. That is whereas there was continued discuss surrounding the ProShares XRP ETFs.
Featured picture from Gemini Imagen, chart from TradingView
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