ProShares Reportedly Files for XRP Leveraged and Inverse ETFs Alongside XRP Futures ETFs

ProShares, an ETF-issuing financial services company, has reportedly filed for XRP leveraged and inverse ETFs alongside XRP futures ETFs.

ETF-issuing financial services company ProShares has reportedly filed for XRP leveraged and inverse ETFs alongside XRP futures ETFs. Crypto lawyer Bill Morgan highlighted the filings on X (formerly Twitter), emphasizing their timing on Gary Gensler’s final day as SEC Chair.

This is being widely reported and significantly on Gensler’s last day. ProShare has other Bitcoin and Ethereum ETFs. I cannot find an announcement by ProShares. Apparently it has submitted applications for XRP leveraged and inverse ETFs and XRP futures ETFs.

Notably, the recent filing by ProShares highlights the overwhelming sentiment among cryptocurrency establishments concerning Gensler's tenure at the helm of affairs at the SEC. Most crypto practitioners believe the outgoing chair played a significant role in the slow adoption of cryptocurrency in the U.S. over the past few years. Gensler's era as the SEC chair saw the Commission engage in several clampdowns and litigations against crypto projects and establishments.

One of the most notable regulatory battles under Gensler's term is the SEC's lawsuit against Ripple. The lengthy legal dispute has impacted XRP's growth, hindering adoption despite the token's early success. Recent court developments, however, have given XRP supporters renewed optimism, as Ripple secured partial victories in the case.

The crypto market is now looking toward Donald Trump's inauguration, with expectations of a friendlier regulatory environment under his administration. Trump has pledged to replace Gensler and establish a more supportive framework for cryptocurrency.

This anticipation has spurred significant activity in the XRP market. Analysts predict increased momentum for crypto products, particularly those tied to Trump's administration, including XRP ETFs. The broader market also expects bullish announcements during the early days of Trump's presidency, potentially sparking a rally across major cryptocurrencies.

With Trump's inauguration just days away, ProShares' filings could align with a market-ready sentiment for crypto adoption and innovation in the U.S.

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