ProShares is all Set To debut three new XRP ETFs as it has received approval from the Unites States Securities and Exchange Commission. ProShares is a united states-based company which issues exchange-traded funds (ETFs).
ProShares To Launch Three XRP ETFs on 30th of April This Year
As per a recent US SEC filing, the US-based firm will be looking to list these three new ETFs on the 30th of April this year. These three exchange-traded funds are not spot products but are future-based, in fact.
The first ETF is Ultra XRP ETF which will offer a leverage of 2x to the daily price movements of XRP. The second ETF is Short XRP ETF which offers an inverse leverage of 1x. While on the other hand, the third ETF which is named Ultra Short XRP ETF provides an inverse leverage of 2X.
XRP futures were also added by the CME Group, a financial services firm based in Chicago, on its exchange.
Optimistic Views from Industry Experts After XRP Futures Launch
After the launch of XRP futures, cryptocurrency investors and industry experts have shared optimistic views. A cryptocurrency investor named Armando Pantoja said that after the approval of XRP futures ETF from SEC, we might see coming up next a Spot XRP ETF which may increase the demand of the coin and lift the prices up. According to Armando, XRP might soon be seeing a Staggering $100 billion flooding into it.
A Lot More Spot XRP ETFs Are Under Review By SEC
XRP Futures ETFs of ProShares will launch on 30th of April. While ProShares has successfully been able to get approval from US SEC, a lot of firms are still waiting for SEC to approve their Spot Exchange-Traded Funds.
As per a report, major companies such as VanEck, Franklin, Grayscale, and 21Shares are currently in line for their Spot XRP ETFs approval from SEC. The deadline for these approval is from April to OCT of the current year.