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Recent speculation surrounding the debut of a ProShares XRP exchange-traded fund (ETF) on April 30 has been firmly addressed by Bloomberg ETF analyst James Seyffart. Through a post on X, Seyffart debunked the rumors, confirming that no such launch is scheduled for that date. His clarification follows widespread confusion stemming from a misinterpretation of regulatory filings.
UPDATE: a lot people posting/reporting that @ProShares will be launching XRP ETFs on April 30th. We’ve confirmed that’s not the case. We don’t have a confirmed launch date yet but we believe they will launch — and likely launch in the short or possibly medium term.
— James Seyffart (@JSeyff) April 28, 2025
The source of the speculation appears to be an April 15 regulatory document that was incorrectly perceived as a launch announcement. Seyffart explicitly stated that the cited date had no bearing on an actual ETF approval or listing. Echoing this, Ben Strack, a spokesperson for ProShares, also refuted any planned ETF launch for the upcoming Wednesday in a separate statement on X.
You may have seen headlines about ProShares XRP ETFs launching this week.
— Ben Strack 🟪 (@strack_ben) April 28, 2025
But a spokesperson told me:
"ProShares does not have any ETF launches scheduled for Wednesday, April 30. We have no further news to share at this time."
Futures-Based XRP ETFs Progress Amid Spot ETF Uncertainty
While the immediate anticipation of a spot XRP ETF from ProShares has been quelled, progress is being made in the realm of futures-based XRP ETFs. Nate Geraci, President of The ETF Store, clarified that the upcoming ProShares offerings will utilize futures contracts rather than directly holding XRP. These funds aim to track XRP’s price movements through futures strategies, providing leveraged and inverse exposure depending on market performance. This approach differs significantly from a traditional spot ETF, which directly holds the underlying asset.
Notably, Teucrium has already launched a futures-based XRP ETF, the 2x Long XRP ETF (ticker XXRP), which seeks to deliver double the daily return of the coin through swap agreements. The fund has already amassed approximately $42.79 million in assets, highlighting investor interest in these alternative investment vehicles.
Also Read: SWIFT Is Stuck in the Past, Says Ripple CEO — Blockchain and XRP Lead the Way
Spot XRP ETF Applications Remain Under SEC Review
Despite the advancements in futures-based XRP ETFs, the approval of spot XRP ETFs in the United States remains an ongoing process. Applications from prominent firms like Grayscale, Bitwise, and Franklin Templeton are currently under active review by the U.S. Securities and Exchange Commission (SEC). Unlike their futures-based counterparts, spot ETFs face more stringent regulatory hurdles, contributing to potentially longer approval timelines.
Interestingly, Brazil has already taken the lead by introducing a spot XRP ETF. However, U.S. regulators have yet to greenlight similar offerings. Industry reports suggest that potential shifts in SEC leadership later this year could influence the future trajectory of these applications. For now, investors await further developments on the possibility of a U.S.-based spot XRP ETF.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
