A wave of misinformation swept across crypto media this week as several outlets incorrectly reported that the U.S. Securities and Exchange Commission (SEC) had greenlit ProShares’ XRP ETFs for an April 30 launch. The buzz was based on an outdated April 15 filing, mistakenly recirculated as breaking news.
While no official statement came from ProShares, the rumor mill had already taken off, with XRP enthusiasts across social platforms celebrating prematurely. The filing, which outlined proposed futures-based exchange-traded funds, was legitimate—but misinterpreted.
Bloomberg Analyst Clarifies: SEC Approval Is Real, Timeline Isn’t
Bloomberg ETF analyst James Seyffart stepped in to set the record straight. According to Seyffart, the SEC has granted conditional approval for ProShares’ XRP futures products, but the actual launch has been deferred. The timeline now extends into the short-to-medium term, depending on internal structuring and final regulatory clearances.
Meanwhile, international markets are moving faster. Brazil has already approved and listed the world’s first XRP ETF, underscoring the widening gap between U.S. regulatory inertia and global innovation.
ProShares Ramps Up Plans for XRP Futures ETFs with Institutional Focus
Despite the misinformation storm, the underlying story remains significant: ProShares is preparing to launch a suite of XRP-linked futures ETFs—a move that could reshape the crypto investment landscape for institutional participants.
The proposed products include:
- Ultra XRP ETF – Targets 2x leveraged exposure to XRP price movements
- Short XRP ETF – Designed for 1x inverse exposure, allowing profit from XRP declines
- Ultra Short XRP ETF – Offers a more aggressive 2x inverse strategy for active traders
These funds offer a regulated avenue for speculation on XRP without the need to directly custody the asset—key for hedge funds, family offices, and RIAs navigating compliance frameworks.
ProShares, known for launching the first Bitcoin futures ETF in the U.S., is betting big on XRP’s utility and institutional potential despite regulatory limbo surrounding the asset’s security status.
Teucrium Breaks First Ground with XRP Futures ETF
While ProShares is preparing for launch, Teucrium Investment Advisors has already stolen the spotlight. On April 8, Teucrium became the first firm to debut an XRP futures ETF on the New York Stock Exchange. The product saw strong opening-day volume, indicating pent-up investor demand for XRP exposure within a regulated wrapper.
The Teucrium move mirrors its earlier success in agricultural commodities and marks a decisive shift toward embracing digital asset derivatives.
Spot XRP ETFs Still in Holding Pattern
While futures-based products are gaining traction, the battle for a spot XRP ETF remains far from over. ProShares, alongside Grayscale, 21Shares, and others, continues to await SEC clarity on spot XRP ETF filings.
After an initial April delay, most applicants are now looking toward a second SEC decision window by late May, with some filings possibly delayed until October 2025. These setbacks are reminiscent of the early Bitcoin ETF journey, which took over five years from proposal to approval.
However, optimism is brewing.
A recent JPMorgan research note estimates that XRP-based exchange-traded products (ETPs) could attract between $4 billion and $8 billion in net inflows, provided they follow adoption curves similar to those of Bitcoin and Ethereum ETFs. Such inflows would not only validate XRP’s growing stature but could also reshape institutional portfolio strategies in crypto.
Final Take: Futures First, Spot Later—But Momentum Is Undeniable
While the premature celebration over ProShares’ launch date may have been a misfire, the underlying momentum is real. The infrastructure for XRP futures ETFs is solidifying, and institutional appetite is present.
With Teucrium already live and ProShares closing in, the road to full XRP integration into mainstream financial products is becoming more defined, even as the spot ETF remains stuck in bureaucratic gridlock.
For now, futures appear to be the stepping stone. But if current trends hold, a spot XRP ETF may only be a matter of time, especially under a more open-minded SEC leadership and a maturing crypto-regulatory climate.
