Rumors in the crypto space recently caused a frenzy, indicating that ProShares will debut an XRP ETF on April 30. Bloomberg ETF analyst James Seyffart, however, confirmed that there is no launch date yet.
ProShares Denies XRP ETF Launch, Source: X
The confusion began due to an April 15 regulatory filing, which was misinterpreted by some media outlets. ProShares later cleared the air by stating that they have no XRP ETF scheduled for April 30 and no updates for the time being.
As the buzz intensified, commentators clarified that such a possible ETF by ProShares would be a futures-based ETF, not an XRP spot ETF. Futures ETFs can provide exposure to XRP without holding it directly, but futures ETFs are generally more sensitive.
Nate Geraci of The ETF Store said that upcoming products might be leveraged and inverse ETFs, allowing traders to wager on XRP’s price action in various manners. He added that Teucrium already released a 2x Long XRP ETF (XXRP), which doubles XRP’s daily return through swaps.
Meanwhile, spot XRP ETFs are also awaiting regulatory approval. Firms such as Grayscale, Bitwise, Franklin Templeton, WisdomTree, and 21Shares are queued up, but approvals won’t come until at least October 2025.
While the U.S. is experiencing delays, Brazil has moved ahead. On April 25, Hashdex listed the world’s first spot XRP ETF on the B3 exchange under the ticker XRPH11. The ETF holds 95% of its assets in XRP and follows the Nasdaq XRP Index.
This is Hashdex’s ninth solo-crypto ETF in Brazil, following Bitcoin, Ethereum, and Solana funds. The aim is to draw in institutional investors seeking regulated exposure to crypto.
Ripple’s prolonged legal battle with the SEC remains a hurdle for U.S. XRP ETFs. There was a recent court filing suggesting potential settlement discussions. The outcome may have an impact on future ETF approvals, particularly with new SEC Chairman Paul Atkins at the center.
In spite of the rumors, XRP is still strong. It’s currently trading at $2.30, up slightly for the day. Its market cap increased to $133.5 billion, with a 28% hike in trading volume.
