It’s finally a green light for ProShares’ XRP futures exchange-traded funds (ETFs) launch from the US SEC! With the launch date set for April 30, learn all about the feature ETFs, how to buy them, the token’s maker, Ripple, and more!
On January 17 this year, ProShares proposed three XRP-linked ETFS: the Ultra XRP ETF, which leverages 2x, the Short XRP ETF, which leverages the inverse (-1x), and the Ultra Short XRP ETF, which leverages the inverse (-2x). The proposed funds are to follow the prices of XRP-based futures, allowing traders to take both short and long positions.
How Do You Buy XRP Futures ETFs?
- Direct trade with ProShares is not an option, so you can use a trading platform like CoinDCX that allows crypto ETFS.
- Deposit your funds.
- As April 30 arrives, look for the ProShares XRP ETF code and proceed with the buy.
Is This the First Opportunity to Buy XRP-linked ETFs?
While ProShares XRP Futures ETFs will be available from April 30, Teucrium XRP futures ETFs already entered the New York Stock Exchange on April 8. So, ProShares is going to have a close second position. The world’s first spot XRP ETF, however, was approved last week in Brazil. Hashdex was behind it. The bigger picture is that XRP is finally joining the big league, and the global push confirms it!
More to Join the List of XRP-linked ETFs?
That would be a yes! An XRP Spot ETF from ProShares awaits approval from the US SEC as we speak. Another set of XRP futures contracts of CME Group is due on May 19.
Read More: XRP Price Prediction
What’s Driving the Growing Interest in XRP-linked ETFs?
Other tokens besides Bitcoin and Ether have started creating a buzz. The XRP ETFs now present a legal and secure way of trading in XRP tokens. It could generate institutional interest. The market has already seen a significant impact. Institutional investors’ interest in Solana and XRP has intensified since ETF products were launched.
XRP price saw a jump of above 6.35 percent, rising to $2.28 in early trade on this day. Trading volume went up 53.58 percent, reaching $3.92 billion in the last 24 hours. The market cap rose 2.67 percent, coming to $131.06 billion. On the other hand, earlier today, Bitcoin price dropped 1.79 percent since the day before; volume came at $17 billion, and the market cap was $1.84 trillion. Assess as you will!
XRP faced significant legal scrutiny up until a few years ago. By 2025, it is emerging on international exchanges, drawing massive interest. Regulated products are now up for investment.
Learn More: How to Buy XRP in India?
Ripple and ProShares – the brains behind XRP futures ETFs!
According to ProShares’ claims, it has been offering ETF products since 2006. It has one of the most extensive ETF lineups with over $70 billion in assets, and it is a leader in strategising crypto-linked, dividend growth, and geared, leveraged, as well as inverse ETF investing.
Talking about Ripple, XRP is its primary token. The company has been in a regulatory battle with the US SEC since 2020. It was allegedly due to some trade of unregistered securities. The lawsuit was eventually settled in March this year, and the XRP token jumped over 10 percent, reaching a close of $2.5 during that time.
