ProShares Gains Approval for XRP Futures ETFs Amidst Solana Layer-2 Innovation

ProShares received approval for three futures-based XRP products: Ultra XRP ETF (2x long), Short XRP ETF (1x short), and UltraShort XRP ETF (2x short). With no objections by the deadline of April 26, trading is set to begin on April 30. These funds will rely exclusively on CME contracts and swaps, avoiding physical XRP holdings. On April 28, XRP was trading at $2.28, amidst market processing of the legal settlement with the SEC. CME is also launching its own XRP futures in mid-May, potentially increasing liquidity. Solana is also seeing innovation with Solaxy, a Layer 2 solution that bundles transactions to alleviate network congestion. Currently, nearly $32 million has been exchanged for the $SOLX token, with approximately nine billion tokens staked.