ProShares will introduce three XRP-linked exchange-traded funds this week, following recent approval from the US Securities and Exchange Commission (SEC).
The new products include an Ultra XRP ETF offering 2x leveraged exposure, a Short XRP ETF, and an Ultra Short XRP ETF with -2x leverage, according to regulatory filings.
Several applications, including one from fund manager Grayscale, remain under review, with a critical SEC decision deadline looming on May 22.
The ETFs are set to go live on April 30, 2025, marking another milestone for XRP-related investment products in the United States. However, no approval has yet been granted for a spot XRP ETF.
Last week, CME Group announced that XRP futures would soon be listed on its derivatives exchange. The new offerings will appear alongside Bitcoin, Ether and Solana products. As a result, momentum around XRP investment products continues to build.
The recent surge of XRP-focused investment products reflects a shifting regulatory landscape.
Investors and issuers have long awaited a spot XRP ETF. Such a product would track the token’s price directly, rather than through futures contracts. However, spot crypto ETFs have historically faced greater resistance from regulators.
This surge follows the resolution of a years-long court battle between Ripple Labs and the SEC. In March, Ripple secured a final legal victory. Consequently, significant regulatory hurdles for XRP’s use and listing across financial markets have been removed.