The U.S. Securities and Exchange Commission (SEC) has approved the launch of three XRP futures-based exchange-traded funds (ETFs) by ProShares Trust on April 30, an SEC filing shows. On Jan. 17, days before the now crypto-friendly President Donald Trump was inaugurated, ProShares had proposed the following ETFs:
- Ultra XRP ETF, which will provide 2x leverage
- Short XRP ETF, which will provide inverse (-1x) leverage
- Ultra Short XRP ETF, which will provide inverse (-2x) leverage
These will be the second, third, and fourth XRP-related ETFs to be launched in the U.S. On April 8, the first XRP futures ETF by Teucrium started trading at the New York Stock Exchange (NYSE) and saw a “terrific response.”
It is important to note, however, that a futures-based ETF provides exposure to the price movements of XRP futures contracts. In other words, ProShares’ ETFs will track the price of XRP…
