SEC Approves ProShares XRP Futures ETFs: XRP Price Surges Ahead Of Launch
In a development that might reshape XRP’s position in traditional finance, the U.S. Securities and Exchange Commission (SEC) has cleared ProShares’ proposal to list XRP futures ETFs.
Slated to list on April 30, the new funds might provide investors with a new, regulated way to ride, or bet against, the choppy currents of crypto’s third-largest asset.
Market responses have been prompt. XRP jumped to $2.32 in early trading on April 28, an increase of 6.5%, on CoinMarketCap. Its market capitalization went up to $135.6 billion, with trading volume rising by over 172% within the last 24 hours.
ProShares, a well-known name in Bitcoin ETFs, initially floated the XRP futures ETFs in January — just as President Donald Trump, who received massive donations from Ripple, was sworn into office. Ripple created and maintains the XRP Ledger and the XRP token.
ProShares’ XRP products aim to provide a variety of strategies, from leveraged exposure to bearish bets, all connected to the XRP Index.
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