ProShares has disclosed April 30 as its proposed launch date for a new XRP futures-based ETF, according to its latest regulatory filing. This update suggests the product is nearing readiness, although there is no final confirmation that trading will begin on that specific date.
The ETF will not hold XRP directly but will instead rely on futures contracts and swap agreements tied to the asset. The method lets financial institutions connect to XRP price fluctuations through ownership agreements, even though the fund does not possess XRP tokens.
ProShares initiated their product application process in January and reached a steady pace of product advancement. ProShares gained widespread recognition for becoming the first company to launch a Bitcoin futures ETF during 2021 while attracting substantial market interest which was accompanied by strong initial fund inflow.
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ETF’s success was seen as a critical step toward the eventual approval of spot-based crypto ETFs. Experts predict XRP will face a compressed timeframe until it develops from futures to spot products after observing Bitcoin’s more than two-year journey.
Market Eyes Spot XRP ETF as Regulatory Pressure Mounts
Expectations around a spot XRP ETF are rising as several asset managers, including Franklin Templeton, have submitted filings to the SEC. According to expert Nate Geraci, a spot XRP ETF approval now appears more likely under the current SEC leadership.
He stated that he does not see this SEC rejecting a spot XRP ETF and expects action sooner rather than later. This sentiment is shared by investors betting on platforms like Polymarket, where many anticipate spot approval before the year ends.
The announcement from ProShares is being viewed as a major step that could pave the way for future XRP-based products. While the fund itself avoids direct exposure, it establishes a regulatory precedent and structure for tracking XRP’s performance.
Conclusion
Although the April 30 date is not guaranteed for the launch, ProShares’ move has intensified focus on XRP ETF developments. As market participants await the final go-ahead, anticipation continues to build around the eventual approval of a spot XRP ETF.
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