Cryptocurrency investors scratched their heads last week after Proshares, which launched the XRP ETF on April 30, issued the XRP ETF around Proshares.
Bloomberg ETF analyst James Seyffart stepped in to eliminate misinformation by ensuring no official release dates were scheduled.
Proshares: April 30 launch has no plans
A spokesperson for the company answered reporters yesterday, “Proshares has no plans to launch the ETF released on Wednesday, April 30.”
The company has not commented on a possible timeline for future releases, except saying “there is no other news to be communicated at the moment.”
Update: Many people publish/report @proshares The XRP ETF will be launched on April 30. We have confirmed that this is not the case. We have no confirmed release dates, but we believe they will be launched and will likely launch in the short term or possible mid-term.
– James Seyffart (@jseyff) April 28, 2025
Image: Gemini Imagen
As market observers explain, investors can realistically expect releases in “short to medium term”, despite no set date. The chaos stems from a regulatory filing on April 15, in which multiple news organizations are described as new news organizations.
You may have seen headlines about the launch of the Proshares XRP ETF this week.
But the spokesperson told me:
“Proshares has no plans to release any ETF on Wednesday, April 30. We have no other news to share at the moment.”
– Ben Strack🟪 (@strack_ben) April 28, 2025
Despite its confusingness, XRP’s price remains relatively stable, trading at $2.28, up from 0.79% of its intraday low. Market statistics show that Altcoin’s 24-hour market capitalization grew nearly 1% to $133.8 billion, and trading volume increased by 27% to $4.51 billion.
Future products arrive instead of spotted ETF
The mentioned ETF will not hold the actual token of XRP as stated by Nate Geraci, president of ETF store. Instead, the product will follow cryptocurrencies by using futures contracts, thereby indirectly exposing investors to Altcoin’s price movements.
Geraci said the new ETF will have leverage and inverse versions. This comes after Teucrium recently launched the 2x-long XRP ETF (XXRP) last month. The XXRP Fund adopts a swap protocol, providing twice the daily return of XRP and currently holds approximately $42.7 million in assets.
SEC Still Reviewing XRP ETF Applications
Although futures-based products improve the product, the SEC is still in any position to be seen as ripple ETF recommendations. Companies such as Grayscale, Bit and Franklin Templeton continue to await their regulatory rulings.
Source: Polymarket
Market analysts asked why SECs seem easier for futures-based products than spot ETFs. Regulatory experts point out that futures ETFs usually encounter fewer obstacles in the approval process than on-site products, and risk analysis for on-site products is more stringent.
Probability of approval
Meanwhile, the chances of approval of rogue ETFs for this year have risen 8% to 78%, according to data from the forecast market PolyMarket. This continues during the conversation surrounding the Proshares XRP ETF.
Featured images by Gemini Imagen, charts by TradingView
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