ProShares has received SEC approval to launch three XRP futures-based ETFs. These include the Ultra XRP ETF (2x leverage), Short XRP ETF (-1x inverse exposure), and Ultra Short XRP ETF (-2x inverse exposure).
According to SEC filings, the approval was finalized earlier this year amid growing momentum for crypto financial products. While the SEC has approved the ETFs, a confirmed launch date is pending, with expectations for trading to begin in the short to medium term.
These ETFs will be the second, third, and fourth XRP-related ETFs approved in the US. The first XRP futures ETF, managed by Teucrium, started trading on the NYSE on April 8, showing positive initial volumes.
ProShares also has a pending application for a spot XRP ETF with the SEC, alongside seven other similar applications. Some filings have a final deadline of mid-October, including the conversion requirement by Grayscale and the 21shares proposal.