Proshares will launch three Futures -based Futures that monitor XRP prices on April 30, according to a SEC filing that Cryptopolitan has seen.
The three products are called the Ultra XRP ETF, the short XRP ETF, and the Ultra Short XRP ETF. Each offers different exposure to XRP price movements, including Ultra XRP ETF which provides 2x leverage, the short XRP ETF betting against XRP prices, and the Ultra Short XRP ETF that has offered -2x leverage.
These ETFs were first suggested in January and finally obtained a green light after the SEC refused to object to the review window.
The three Proshares Funds will be second, third, and fourth XRP-tracking ETFs Available in the US market. However, Proshares are still waiting for the SEC approved for the XRP ETF application, which is stuck next to other similar proposals from Grayscale, 21shares, and Bitwise, according to the Block's ETF tracker.
Earlier this month, Teucrium Investment Advisors LLC, a Vermont -based firm, defeated all by it by launching the first XRP Futures ETF in the United States. Teucrium's ETF offers leveraged exposure to XRP without really holding the token.
Eric Balchunas, a senior analyst of ETF in Bloomberg, Na -Post To X that, “very odd (perhaps a first) that the first ETF of a new possession is that -—Laves. The spot XRP is still not approved, [although] Our odds are pretty high. “
CME GROUP to add XRP futures while Proshares launches the ETFs
Shortly after the news of Proshares, the CME Group, the largest derivatives exchange in the United States, announced plans to add XRP futures to its offerings. CME has already listed futures contracts for BTC, ETH, and Sol, and the XRP will now join the lineup if everything is planned. This step occurs under an environment where, under the leadership of President Donald Trump, regulators such as the CFTC and SEC have made a less aggressive bearing bearing toward the crypto industry.
CME said it would introduce two types of contracts with XRP futures: a micro-sized contract tied to 2,500 XRP, and a larger one tied to 50,000 XRP. Both are repaired cash and calculated using the CME CF XRP-dollar reference rate, which is updated once a day at 4:00 pm et.
Current market data shows XRP trade around $ 2, up to 1% in the last 24 hours, based on numbers from coingecko. If the CME addition is passing by, the XRP will be the fourth cryptocurrency available for futures trading on the platform, join BTC, ETH, and Sol.
The decision to include XRP is not random. The fourth largest crypto has a market cap of over $ 127 billion, making it the fourth largest token in the market.
Its backer, Ripple, has a heavy lobbying presence in Washington, DC, which continues to push for regulatory frameworks that favor blockchain development.
Ripple's aggressive push for XRP adoption, however, is not always sitting well in the broader crypto community. The so-called XRP Army has occasionally launched antagonistic campaigns against other blockchain projects to further its own factor.
Ripple also stabbed the energy of bitcoin's heavy energy, pitching XRP as a cleaner, more sustainable choice instead.
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