Chiara Bianchi
ProShares, a major player in the ETF market, is set to debut three XRP futures-based ETFs on April 30, according to a recent filing with the Securities and Exchange Commission (SEC).
The new products will include:
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Ultra XRP ETF (offering 2x leveraged exposure),
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Short XRP ETF (providing inverse exposure), and
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Ultra Short XRP ETF (offering -2x leveraged exposure).
These ETFs, initially proposed in January, moved forward after the SEC chose not to object during its review period, signaling a passive approval.
ProShares Joins the Race for XRP-Based Investment Products
These upcoming funds will mark the second, third, and fourth ETFs tied to the price movement of XRP now available in the U.S. market. However, ProShares’ separate request to launch a spot XRP ETF remains pending, alongside similar applications from major asset managers such as Grayscale, 21Shares, and Bitwise, as tracked by PRIMEโs ETF Tracker.
Earlier this month, Teucrium Investment Advisors, based in Vermont, launched the first XRP ETF in the United States, offering leveraged exposure without physically holding the XRP token itself.
Analysts Weigh In on XRP ETF Developments
Commenting on the unusual nature of these launches, Eric Balchunas, Senior ETF Analyst at Bloomberg, noted on X (formerly Twitter),
“Very odd (maybe a first) that a new assetโs first ETF is leveraged. Spot XRP still not approved, [although] our odds are pretty high.”
The move is considered significant, as it showcases growing institutional appetite for XRP exposure, despite the lack of an approved spot ETF.
CME Group Also Taps Into XRP Demand
The ProShares announcement follows news that the CME Group, the largest derivatives exchange in the U.S., will soon list XRP futures alongside its existing Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) products.
This wave of activity around XRP highlights the assetโs rising profile within traditional finance circles, particularly after recent regulatory clarity and growing interest in blockchain-based settlement solutions.
