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By Shaurya Malwa|Edited by Sam Reynolds
Updated Apr 28, 2025, 6:08 a.m. Published Apr 28, 2025, 5:11 a.m.
- ProShares is set to launch three new XRP-tracked ETFs following tacit approval from the SEC.
- The new ETFs include an Ultra XRP ETF, a Short XRP ETF, and an Ultra Short XRP ETF.
- This development follows the conclusion of Ripple’s legal battle with the SEC, clearing regulatory hurdles for XRP.
Exchange-traded funds (ETF) issuer ProShares will introduce three XRP-tracked products this week after a tacit U.S. Securities and Exchange Commission (SEC) approval.
STORY CONTINUES BELOW
It will launch an Ultra XRP ETF (2x leverage), a Short XRP ETF and an Ultra Short XRP ETF (-2x leverage), filings show. No movement has been made on its spot XRP ETF, however. Meanwhile, the SEC has acknowledged several XRP spot ETF applications so far, with fund manager Grayscale’s filing facing a critical May 22 deadline.
ProShares’ approvals come weeks after Teucrium’s 2x XRP ETF started trading earlier this month, becoming the first XRP ETF in the U.S. It racked over $5 million in trading volumes on the first day, becoming the firm’s “most successful” launch to date.
Last week, the CME Group added XRP futures to its largest derivatives exchange in the U.S. for launch next month, alongside BTC, ETH, and SOL products.
The flurry of ETFs tracking XRP comes after closely related company Ripple’s long-standing court battle against the SEC, which was fully concluded in March, clearing extensive regulatory headwinds for the tokens.
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
