XRP Holders Given Fresh Timeline as ETF Chatter Intensifies
Latest on ProShares' XRP ETF Launch: A New Target Date and What's Inside
Gear up for an updated launch date from ProShares, with their futures-based XRP ETFs now targeting May 14 as a go-live date, as per a newly filed amendment.
Initially, the buzz pointed towards an April 30 launch, but that seems to have shifted now. Last week, a flurry of misinformation about the SEC's approval for the products on that date sparked quite a stir, possibly causing a temporary XRP price surge. However, it was later clarified that this wasn’t entirely accurate. The exact launch date remains uncertain at this point.
The latest amendment doesn’t guarantee an May 14 debut for three XRP-focused ETFs, as it's merely a procedural update. Yet, there’s still anticipation for their short-term to medium-term release.
A closer look at the products in question:
- Ultra XRP ETF: This offers a 2x leveraged exposure to XRP's daily price fluctuations.
- Short XRP ETF: Here, you'll find -1x inverse exposure to the digital asset.
- Ultra Short XRP ETF: This boasts a -2x inverse leverage on XRP's daily price action.
The SEC has given the green light to these ETFs through a procedural approval process, meaning no direct reapproval is required if no objections are raised. This decision comes after Ripple Labs managed to settle their legal battle with the SEC, thereby reducing regulatory uncertainties surrounding XRP. Meanwhile, other spot XRP ETF applications from firms such as Grayscale and VanEck are still under SEC review.
Stay tuned for more updates on this developing story!
- Following the amendment, it's likely that ProShares will launch their XRP-focused ETFs, tentatively on May 14.
- The Ultra XRP ETF, a part of the lineup, provides a 2x leveraged exposure to daily XRP price fluctuations.
- Interest in investing in cryptocurrencies like Bitcoin and Dogecoin might be stressing the finance sector as these new ETFs are poised for a short-term to medium-term release.
- Technology advances are key drivers in the development of these ETFs, making it possible for financial products like the Short XRP ETF to offer -1x inverse exposure to the digital asset.
