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The US Securities and Exchange Commission (SEC) approved three ProShares XRP ETFs (exchange-traded funds), sending XRP surging almost 8%.
ProShares plans to roll out an Ultra XRP ETF (2x leverage), a Short XRP ETF, and an Ultra Short XRP ETF (-2x leverage) on April 30, according to filings. The company’s spot XRP ETF application remains pending, and a key SEC decision is expected on May 22.
The SEC’s green light for the three XRP futures ETFs marks a key milestone in the Ripple token’s adoption by traditional financial markets.
🔥 The SEC just approved an $XRP ETF 🔥
But it’s not what many people think.
It’s not a Spot ETF.
It’s a Futures ETF.The difference?
A Spot ETF buys and holds real XRP, creating real demand. A Futures ETF only bets on XRP’s price without touching a single real token.
What… pic.twitter.com/EaqCWuOtM4
— John Squire (@TheCryptoSquire) April 27, 2025
The approval of ProShares’ XRP ETFs comes after Teucrium’s 2x XRP fund started trading earlier this month. Teucrium’s fund was the first XRP ETF in the US, and posted more than $5 million in trading volumes on the first day. This strong start also made the product the company’s most successful launch to date.
Deadline For Spot XRP ETF Draws Closer
The ProShares XRP ETFs will give investors exposure to the remittance token through derivatives, which will likely not introduce much buy side pressure on XRP’s price, said ETF Store President Nate Geraci.
He wondered why futures ETFs are being approved before spot XRP ETFs.
There are multiple applications for spot XRP ETFs, which the agency has already acknowledged. Investors will now wait for May 22, the next deadline for fund manager Grayscale’s spot XRP ETF filing.
The flurry of filings from bidding issuers comes soon after Ripple’s multi-year legal battle with the SEC concluded in March.
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