- Bloomberg analyst clarifies no XRP ETF launch scheduled for April 30, correcting widespread rumors.
- ProShares plans futures-based ETFs, not spot products holding XRP directly.
- SEC continues reviewing spot ETF applications from Grayscale, Bitwise, and Franklin Templeton.
Launch of a ProShares XRP ETF on April 30 has officially been disproved. Bloomberg ETF analyst James Seyffart shed light that no ETF launch has been planned for the mentioned date. By dismissing a multitude of rumors promoted by a stalled regulatory filing.
Confusion Over XRP ETF Launch Dates
In recent days, anticipation ran high within the crypto world after reports indicated that ProShares would launch an XRP ETF on April 30. Nonetheless, Seyffart clarified that the reports were false, quoting that the information about the launch. Which was inaccurately obtained from an April 15 filing, rather than a fresh announcement.
A ProShares spokesperson also confirmed. That, “ProShares does not have any ETF launches scheduled for Wednesday, April 30,” silencing speculations for the moment.
You may have seen headlines about ProShares XRP ETFs launching this week.
But a spokesperson told me:
“ProShares does not have any ETF launches scheduled for Wednesday, April 30. We have no further news to share at this time.”
— Ben Strack
(@strack_ben) April 28, 2025
Although an ETF is well on its way, it should be noted that it won’t be a spot ETF directly invested in XRP. Nate Geraci, President of The ETF Store, noted that the soon-to-be-launched ProShares XRP products are futures-based. The funds will follow XRP prices via futures contracts and provide leveraged and inverse exposure instead of direct investment in the cryptocurrency itself.
Earlier this month, Teucrium launched a 2x Long XRP ETF (XXRP), seeking to provide twice the daily return of XRP through swap agreements. The fund already has about $42.79 million in assets, which suggests investor demand for futures-based exposure to XRP.
SEC Still Reviewing Spot XRP ETFs
Meanwhile, the U.S. Securities and Exchange Commission (SEC) is still reviewing applications for spot XRP ETFs submitted by firms like Grayscale, Bitwise, and Franklin Templeton. Spot ETFs, unlike futures ETFs, face tighter regulatory scrutiny, which has led to delays in approvals. While Brazil has already launched a spot ETF, U.S. regulators are being cautious.
According to Bloomberg, with Paul Atkins having recently taken on a leadership position at the SEC. The rulings on these spot ETF applications may become a point of emphasis later this year. No definitive timeline for the approvals has been given.
For the time being, crypto investors will have to cool their heels. Although ProShares is making progress toward the introduction of XRP-linked ETFs, these will be tied to futures contracts, not direct holdings of XRP. The anticipation for a genuine spot ETF in the U.S. continues as regulatory barriers remain firmly in place.
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