ProShares has confirmed plans to launch a set of XRP futures-based exchange-traded funds (ETFs) by April 30, according to an updated April 15 filing with the US Securities and Exchange Commission (SEC).
According to the filing, the asset management firm plans to introduce three futures-based funds: the ProShares UltraShort XRP ETF, the ProShares Ultra XRP ETF, and the ProShares Short XRP ETF.
These funds will not hold XRP directly but will rely on futures contracts and swap agreements to gain exposure to the asset.
Meanwhile, this update’s timing is notable, considering it comes less than a week after the US saw its first XRP-based financial investment vehicle go live.
Launched on April 9, the Teucrium 2x Long Daily XRP ETF (XXRP) delivers twice the daily performance of XRP using swap contracts.
Sal Gilbertie, CEO of Teucrium, reported that the fund experienced the strongest debut for any fund regarding first-day trading activity.
XRP positions for spot ETF
ProShares’ entry into the XRP ETF market adds momentum to the asset’s growing institutional narrative.
Crypto analytics firm Kaiko recently highlighted XRP as the most promising altcoin candidate for spot ETF approval in the US.
In its latest analysis, Kaiko pointed to a noticeable rise in US spot trading volume for XRP and the recent introduction of leveraged funds as signs of maturing market conditions. The firm believes these developments place XRP ahead of other altcoins in the race for regulatory approval.
According to Kaiko:
“Since [XRP] leveraged ETF relies on returns from European ETPs and swap agreements to guarantee twice the daily returns of XRP, its hard to see how a spot product is more risky and therefore diminishes most arguments for denying these applications.”
This bullishness is also evident in prediction markets like Polymarket, where crypto bettors estimate a 75% chance of a spot ETF approval before the end of this year. Should that materialize, analysts forecast potential capital inflows into the products could reach as high as $8 billion.
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