The US Securities and Exchange Commission (SEC) approved the launch of three XRP futures exchange-traded funds (ETFs) by ProShares Trust on April 30. According to an SEC filing, these ETFs consist of the short XRP ETF, the Ultra XRP ETF, and the Ultra Short XRP ETF. ProShares, an issuer of ETFs, proposed the idea behind three XRP-based ETFs in January 2025.
On April 8, 2025, Teucrium, another investment company, unveiled its debut US-traded XRP ETF — 2x Long Daily XRP ETF (XXRP), which received huge applause on the launch day. Reportedly, the XXRP accumulated over $5 million in trading volume at the outset. This XRP ETF is meant to deliver double the XRP’s daily performance using swap contracts. Notably, this is the first US-listed ETF tied to XRP on the New York Stock Exchange (NYSE) Arca exchange.
The announcement of the XRP ETF launch from the two firms comes after the long Ripple vs. SEC battle came to an end. Ripple Labs is the parent company of XRP.
What are the three XRP futures ETFs by ProShares?
For the uninitiated, the short XRP ETF is an investment fund that leverages profits when the price of XRP goes down; if XRP dips 5%, the short XRP ETF hikes 5%. Meanwhile, the Ultra XRP ETF delivers twice (2x) the daily price movements of XRP — if XRP goes up by 5% in a day, the ETF would increase by 10%. Finally, the Ultra Short XRP ETF leverages profits when the price of XRP dips, but the profit equals twice the inverse of XRP’s daily performance. For example, ETF increases by 10% when the price of XRP decreases by 5% in a day.
Besides the futures ETFs, ProShares has planned to introduce XRP Spot ETFs once it gets approval from the SEC. On April 25, the world’s first spot XRP ETF was introduced by a crypto asset management company, Hashdex, which began trading in Brazil.
What’s happening with the XRP price?
Reportedly, XRP experienced a price surge following the approval for the launch of the three XRP ETFs. At the time of reporting, the coin was trading at $2.3, a 7.46% increase in the past 24 hours.
