- Bloomberg analyst clarifies any launch of the ETF XRP scheduled for April 30, correcting generalized rumors.
- Proshares provides ETFs based on future, and not identified products directly holding XRP.
- SEC continues to examine the SPOT ETF applications of Grayscale, Bitwise and Franklin Templeton.
The launch of an XRP ETF on April 30 was officially refuted. Bloomberg ETF analyst, James Seyffart, has informed that no ETF launch has been provided for the date mentioned. By rejecting a multitude of rumors promoted by a regulatory file in a standstill.
Confusion on the launch dates of XRP ETF
In recent days, anticipation has been raised in the world of cryptography after reports have indicated that Proshares is launching an XRP ETF on April 30. Nevertheless, Seyffart said that the reports were false, citing the information on the launch. Which was obtained in an inaccurate way from a file of April 15, rather than a new announcement.
A proshares spokesperson has also confirmed. That, “Proshares has no ETF launches scheduled for Wednesday, April 30, ” silence speculation at the moment.
Although an ETF is on the right track, it should be noted that it will not be an ETF spot directly invested in XRP. Nate Geraci, president of the ETF store, noted that the XRP proshares products that will soon be launched are based on future. The funds will follow the XRP prices via term contracts and provide leverage and reverse exposure instead of a direct investment in the cryptocurrency itself.
Earlier this month, Teucrium launched an ETF XRP of 2x long (XXRP), seeking to provide twice the daily return of XRP via swap agreements. The fund already has around $ 42.79 million in assets, which suggests a demand for investors for exposure based on XRP -term contracts.
Dry always reviewed XRP ETF spot
Meanwhile, the Securities and Exchange American Commission (SEC) still examines the requests for FNB SPOT XRP submitted by companies like Grayscale, Bitwise and Franklin Templeton. The FNB Spot, unlike the FNB in the long term, are faced with a tighter regulatory examination, which has led to delays in approvals. While Brazil has already launched an ETF Spot, American regulators are cautious.
According to Bloomberg, Paul Atkins recently took a position of management at the dry. Decisions on these ETF Spot applications could become a waiting point later this year. No final calendar for approvals has been given.
For the moment, cryptographic investors will have to cool their heels. Although Proshares progresses towards the introduction of ETFs linked to XRP, these will be linked to term contracts, and not to direct XRP assets. The anticipation of a real ETF spot in the United States continues while the regulatory barriers remain firmly in place.
Highlighted the news of the crypto today
CZ “Buy the tweet”: does the Bitcoin rally arrive?
share
