ProShares Prepares to Launch Three XRP Futures-Based ETFs

According to a new filing with the US Securities and Exchange Commission (SEC), ProShares is preparing to launch three XRP futures-based ETFs.

According to a new filing with the US Securities and Exchange Commission (SEC), ProShares is preparing to launch three XRP futures-based ETFs. The move comes as interest in the third-largest digital currency continues to grow, especially after Ripple’s recent legal victory.

ProShares Pushes Ahead With Plans to Launch Three XRP ETFs

According to the filing spotted by Law360, ProShares intends to roll out three new funds: the ProShares UltraShort XRP ETF, the ProShares Ultra XRP ETF, and the ProShares Short XRP ETF.

It is worth noting that these products will not be holding any XRP directly. Instead, the fund will use futures contracts and swap agreements to track the digital currency’s price movements.

This move follows the April 9 launch of the Teucrium 2x Long Daily XRP ETF, the first ETF based on the token in the United States. The Teucrium ETF had one of the most active first-day trading among newly launched funds this year, highlighting the deep interest from investors.

According to the filing, ProShares aims to launch by April 30. The timing is significant, as more asset managers are beginning to develop financial products tied to XRP. This interest has grown following Ripple’s recent legal progress with the SEC.

In line with these moves, crypto data provider Kaiko recently flagged XRP as the leading altcoin candidate for a spot ETF in the US market. According to Kaiko, growing spot trading volume in the US and the rise of leveraged funds suggest that the asset is maturing and could soon meet the standards for a spot ETF.

Kaiko’s report pointed out that leveraged ETFs are already being approved. These funds rely on swap agreements and exposure to foreign markets. Based on this perception, it is becoming harder to justify the rejection of a spot XRP product.

XRP Clocks High Momentum Following Recent Developments

The timing of ProShares’ filing follows a period of high momentum for XRP. In an earlier update, Coinspeaker noted that shortly after its legal dispute with the SEC ended, Ripple Labs locked 700 million XRP in escrow. This move was seen by many as a sign of stability and long-term planning by Ripple.

Per the market-making trends, on-chain activity revealed that recently, Ripple Labs moved 200 million XRP to one of its internal wallets. This sparked speculation across the XRP community, with many viewing it as a possible trigger for a selloff.

Still, a recent report shows that XRP clocked the highest weekly inflows among all alternative cryptocurrencies. This happened as broader crypto investment products saw outflows topping $795 million in the past week.

On prediction markets, sentiment around a U.S. spot XRP ETF approval is largely bullish. On Polymarket, many traders have placed their bets on an approval arriving by the end of the year. Analysts believe this could attract over $8 billion in capital from institutional investors if it happens.

ProShares’ entry into the XRP ETF race puts pressure on regulators to respond. As more financial firms line up to offer exposure to the asset, XRP’s case as a regulated and investable product grows stronger.