Potential XRP Exchange-Traded Fund (ETF) May Debut in the Coming Week
Unleashing the 2X Leveraged XRP ETF: ProShares' Big Move into Crypto
Hey there, folks! The crypto world is buzzing with excitement as ProShares gears up to launch its futures-based 2X leveraged XRP ETF. Mark your calendars - the big day is set for next week!
As per our sources at U.Today, ProShares had earlier confirmed April 30 as the target date for the product launch [4]. With no formal objections raised from the SEC during the review period, it seems the rollout is set to proceed as planned.
On top of the 2X ETF, ProShares is also planning to go live with short and ultra-short leveraged XRP ETFs [4].
Here's a quick rundown on what you need to know:
- Such ETFs receive the SEC's silent approval if there's no objection within a certain time period after filing [5]. The filing shows that no immediate effectiveness upon filing was selected, with April 30, 2025, chosen as the effective date [5].
- The ProShares Trust, headquartered in Bethesda, Maryland, will be managing these ETFs, with ProShare Advisors LLC serving as the investment advisor [5]. Richard Morris of ProShare Advisors will take up the role as the agent for service, while legal counsel from Dechert LLP in New York will provide support [5].
- This foray into digital assets marks a strategic move by ProShares Trust, aligning with the firm's commitment to offering cryptocurrency-tied investment products [5]. The funds will be structured under a mutual fund framework and registered in compliance with both the Securities Act and the Investment Company Act [5].
- These ETFs won't be a spot product offering for XRP, but they will give investors a regulated avenue to access the popular alternative cryptocurrency through these financial products [6].
- As we look ahead to the April 30 launch, this development comes as a significant leap forward for XRP-focused investment vehicles in the U.S. regulated environment [6].
Stay tuned for more updates on this game-changing crypto move!
#XRP #XRP_News #Ripple_News
[1] SEC Greenlights ProShares' XRP ETF Launch[2] ProShares Announces Leveraged XRP ETFs[3] Regulatory Hurdles Cleared for ProShares' XRP ETF[4] ProShares Targets April 30 for XRP 2X Leveraged ETF Launch[5] ProShares Trust to Offer Digital Asset-Tied ETFs[6] Imminent Launch of ProShares XRP ETFs Sparks Expectations in U.S. Crypto Market
- ProShares' upcoming launch of its 2X leveraged XRP ETF is creating a buzz in the crypto environment, with the scheduled date being next week.
- Sources suggest that the SEC has confirmed April 30 as the target date for the product launch, and no formal objections have been raised during the review period.
- Alongside the 2X ETF, ProShares is planning to also introduce short and ultra-short leveraged XRP ETFs.
- The SEC's silence on objections within a certain time period after filing signifies the product's silent approval, with the effective date set for April 30, 2025.
- The ProShares Trust, headquartered in Bethesda, Maryland, will manage these ETFs, with ProShare Advisors LLC serving as the investment advisor.
- This move into digital assets by ProShares Trust represents a strategic commitment to offering cryptocurrency-tied investment products, with these ETFs giving investors a regulated avenue to access XRP.
