ProShares has announced plans to introduce XRP futures-based exchange-traded funds (ETFs) by April 30, as confirmed in an updated filing with the US Securities and Exchange Commission. These ETFs will include the ProShares UltraShort XRP ETF, ProShares Ultra XRP ETF, and ProShares Short XRP ETF, which will not directly hold XRP but rely on futures contracts for exposure. This announcement comes shortly after the launch of the Teucrium 2x Long Daily XRP ETF on April 9, showcasing the increasing interest in XRP-based financial products.
The debut of the Teucrium 2x Long Daily XRP ETF was met with positive reception, with Sal Gilbertie, CEO of Teucrium, reporting strong first-day trading activity. ProShares’ entry into the XRP ETF market further reinforces the asset’s growing institutional narrative, with crypto analytics firm Kaiko identifying XRP as a leading candidate for spot ETF approval in the US. The rise in US spot trading volume for XRP and the introduction of leveraged funds are seen as indicators of a maturing market, positioning XRP ahead of other altcoins in the quest for regulatory approval.
Kaiko’s analysis suggests that the nature of XRP leveraged ETFs, relying on European ETPs and swap agreements for returns, diminishes arguments against spot ETF approval. Prediction markets like Polymarket also reflect a positive outlook on the possibility of a spot ETF approval for XRP, with a 75% estimated chance before the end of the year. Analysts predict significant capital inflows reaching up to $8 billion should this approval come to fruition, highlighting the potential growth opportunities for XRP-based financial products.
In conclusion, the upcoming launch of XRP futures-based ETFs by ProShares signals a positive shift in the institutional acceptance of XRP as an investment asset. The success of the Teucrium 2x Long Daily XRP ETF and the bullish sentiment surrounding XRP spot ETF approval underscore the growing interest and potential market growth for XRP-related financial products. As the cryptocurrency market continues to evolve and mature, XRP’s positioning as a leading altcoin for institutional investments is solidified, paving the way for increased adoption and investment opportunities in the future.
