The US Securities and Stock Exchange Committee (Sec) has approved three start-ups Xrp Proshares Trust Future -Based Funds (ETF) on April 30 SEC submission Programs. On January 17th, the days before the re-appointment of crypto-friendly President Donald Trump, Proshares had proposed the following ETFs:
- Ultra XRP ETF that gives 2x a leverage
- Short XRP ETF that provides inverse (-1x) leverage
- Ultra Short XRP ETF that provides inverse (-2x) leverage
These are the second, third and fourth ETFs related to XRP, launched in the US on April 8, Teucrium's first XRP Future ETF started trading in the New York Stock Exchange (NYSE) and saw “”terrible answerTo. ”
However, it is important to note that the ETF based on futures offers exposure to the price movements of the XRP futures contracts. In other words, the Proshares ETF is monitored by the XRP price through the XRP index. This means that, unlike the Spot ETF that requires the purchase of XRP chips, the Futures XRP ETF allows you to bet on the XRP price without having to keep the badge.
Proshares Separate App for Spot XRP ETFs is still on hold for SEC. While US Dithers, HashDex first place XRP ETF started Trading in Brazil earlier this week.
However, this does not lower the importance of triggering the ETF of these XRP futures. These products offer a regulated way to benefit from the XRP price movement by opening the doors for institutional interest.
Impact on the price of XRP
Futures-ETF approval had a positive impact on XRP price, which rose 3.5%in the last 24 hours until $ 2.27 at the time of writing, Cryptoslatedata Programs. The XRP market cap is now over $ 312 billion.
It is interesting to note that the price of all other largest market caps except Bitcoin (which increased by 0.11%) has fallen in the last 24 hours. This shows that the price of the XRP has moved against the market, experiencing the highest price among the top 10 chips.
Ripple's complex relationships with SEC has improved
With XRP, ETF's launch in the US is considered a big victory for the XRP company Ripple. Ripple was in the hot water for years. But it has changed after Trump took over and his candidate Paul Atkins became chairman of SEC.
Trump, who took a crypto -friendly attitude for another term, has taken a very different approach than their predecessors. On Friday, at the Roundtable of the SEC crypto working group, Atkins said:
“The market itself seems to indicate that the current framework needs bad attention.”
Atkins added that Crypto Innovation “has been suffocated for the last several years” because of the SEC approach led by former chairman Gary Gensler.
In 2020, SEC Ripple met, claiming that it violated securities law by selling XRP, which the agency considered unregistered to be security.
In July 2023, Ripple secured a partial victory when the judge decided that XRP did not qualify in the back markets, such as shifts. However, XRP's institutional sale formed unregistered securities – the judge supported the fine of $ 125 million, but SEC submitted the decision.
On March 19th Ripple CEO Brad Garlinghouseannounced that SEC has agreed to abandon the complaint if the Commission's voting and approval are. Garlinghouse announced that the landmark “case is over. This is over,” calling for a moment a historical victory.
On April 10, Ripple and SEC jointly submitted Proposal of the suspension of the settlement.
The resolution of the Ripple SEC case has a broader impact on the crypto market, as it would make a precedent proving that shift -trading chips are not necessarily securities.
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