ProShares is preparing to roll out three XRP futures ETFs on April 30, marking a major milestone in the cryptocurrency investment space. Following approval from the U.S. Securities and Exchange Commission (SEC), the firm is preparing to expand institutional access to XRP-based products.
ProShares Confirms XRP Futures ETF Launch
According to a recently filed Form N-1A, ProShares plans to introduce three distinct XRP-focused exchange-traded funds: the Short XRP ETF, the Ultra XRP ETF, and the UltraShort XRP ETF. Each ETF offers a different type of exposure based on leverage, allowing investors to select products tailored to their risk appetite and trading strategies.
The Ultra XRP ETF will provide 2x leveraged exposure to XRP futures, enabling traders to amplify gains if XRP’s price moves upward. Meanwhile, the UltraShort XRP ETF will offer -2x inverse leverage, allowing investors to profit when XRP’s price declines sharply. Finally, the Short XRP ETF will offer -1x inverse exposure, suitable for those anticipating a moderate pullback.
Futures-Based Exposure vs. Spot Investment
Unlike spot ETFs, which require direct purchase of the underlying asset, these new ProShares products give investors exposure to XRP’s price movements via futures contracts. Futures ETFs track an index linked to XRP’s market performance, meaning investors can speculate on price changes without holding XRP tokens directly.
ProShares has also filed separately for a spot XRP ETF, although that proposal remains under review by the SEC at this time.
XRP ETF Momentum Builds in the U.S.
ProShares’ approval comes hot on the heels of another landmark event: earlier this month, ETF issuer Teucrium launched the first-ever XRP futures ETF in the United States. Teucrium’s XRP ETF began trading on the New York Stock Exchange on April 8, opening new doors for both retail and institutional participants.
With ProShares now entering the scene, the XRP ETF market is gaining significant traction. SEC approval for these products signals a shift toward broader institutional acceptance of Ripple’s token.
XRP Market Responds with Price and Volume Surge
Following the ProShares announcement and broader XRP ETF momentum, XRP’s price rallied by 7.80% over the last 24 hours. At press time, XRP trades at $2.33, boasting a market capitalization exceeding $136 billion. Daily trading volume also surged by 124.01% to nearly $5 billion, reflecting a dramatic uptick in investor interest and activity.
Such growth highlights how institutional-grade products like ETFs can help fuel liquidity and stabilize long-term demand for crypto assets.
Related article: Experts Unpack “The Perfect Storm” That Could Trigger an XRP Price Explosion
More XRP ETF Applications Await SEC Decision
While Teucrium and ProShares have secured approvals, other major asset managers are still awaiting verdicts on their XRP ETF proposals. Last month, the SEC postponed its decision on Grayscale’s XRP ETF application, citing the need for further review.
Meanwhile, Franklin Templeton, Canary Capital, WisdomTree, Bitwise, CoinShares, and 21Shares have all filed applications to offer XRP-related institutional investment products. Their interest underscores XRP’s growing importance in the emerging crypto financial system, particularly given its mention in the Trump administration’s evolving crypto reserve strategy.
The launch of ProShares’ XRP ETFs represents another step toward mainstream acceptance of XRP as a viable asset class. By providing both long and short exposure through futures contracts, ProShares is giving investors more tools to engage with XRP in dynamic ways.
As institutional demand accelerates and regulatory clarity improves, XRP could solidify its role as a cornerstone asset in crypto-focused investment portfolios.
