ProShares is set to launch three new futures XRP exchange-traded funds (ETFs) on 30 April 2025, according to a fresh filing with the United States Securities and Exchange Commission (SEC).
This move comes after the SEC chose not to object to the proposals during the review period, clearing the way for the new crypto products to hit the market.
ProShares Futures XRP ETFs
The upcoming funds include an Ultra XRP ETF (offering 2x leveraged exposure), a Short XRP ETF (allowing investors to bet against XRP’s price), and an Ultra Short XRP ETF (-2x leverage for bigger downside bets).
These ETFs will give traders new ways to speculate on XRP price movements without owning the XRP Ledger (XRPL) native token directly.
XRP ETFs in the U.S.
Once launched, these three funds will become the second, third, and fourth XRP-related ETFs available on the U.S. market.
Earlier this month, Teucrium Investment Advisors, a Vermont-based asset manager, launched the first XRP ETF in the country, which also offers leveraged exposure rather than spot holdings.
It’s interesting to note that all the available XRP ETFs so far are futures-based and not direct spot ETFs. Bloomberg Senior ETF Analyst Eric Balchunas called this development very odd, pointing out that it is rare for a new asset’s first ETF to be leveraged rather than spot.
“Spot XRP still not approved, [although] our odds are pretty high,” Balchunas added in a X post.
Spot XRP ETFs still waiting for approval
ProShares is also trying to launch a spot XRP ETF, but like similar applications from Grayscale, 21Shares, and Bitwise, it remains under SEC review.
The broader crypto industry continues to push for spot ETF approvals to offer investors direct exposure to digital assets without needing to trade futures contracts.
Meanwhile, momentum around XRP-related products is picking up. The CME Group, the largest U.S. derivatives exchange, recently announced it would add XRP futures to its offerings, alongside existing Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) futures.
While the U.S. is yet to welcome any spot XRP ETF, Brazil-based Hashdex launched the world’s first-ever spot XRP ETF on 26 April 2025.
XRP in the market
Following the latest ETF news, XRP’s price has seen a slight boost. It’s up about 1.1% over the past 24 hours and is trading around $2.23 at the time of writing.
With more futures XRP ETFs entering the market, U.S. investors now have more tools to engage with one of the third-largest cryptocurrency by market cap.
While the market still waits for the first spot XRP ETF, the growing interest from major asset managers shows confidence that more regulatory breakthroughs could be on the horizon.
