16-4-2025 – ProShares has set its sights on launching an XRP futures exchange-traded fund (ETF) by April 30, subject to the nod from U.S. regulators. The firm, which etched its name in history with the debut of America’s first Bitcoin futures ETF in 2021, is now poised to harness the surging enthusiasm for XRP, the cryptocurrency currently commanding a price of $2.08 and boasting a 13% rise over the past week.
Unlike direct investment in the token itself, the proposed ETF will channel its resources into futures contracts and swaps tethered to XRP’s market performance. This strategic pivot reflects a cautious yet innovative approach to offering investors exposure to the asset, which has climbed to the fourth spot in market capitalisation, eclipsing Solana in the race for ETF prominence.
The broader landscape is equally dynamic, with heavyweight players such as Grayscale, Bitwise, 21Shares, CoinShares, and Canary Capital lodging applications for spot XRP ETFs. This flurry of filings signals a robust confidence in XRP’s market resilience, bolstered by its surging trading volumes—the highest since the SEC’s 2020 legal challenge—and enhanced liquidity on U.S. exchanges. A recent report from Kaiko highlights XRP’s edge over Solana, citing its deeper market presence and the regulator’s prior approval of indirect exposure products as pivotal factors.
Yet, the path to approval remains fraught with uncertainty. The Securities and Exchange Commission (SEC) has maintained a measured stance on spot cryptocurrency ETFs, leaving the fate of ProShares’ futures ETF and its spot counterparts hanging in the balance. Nevertheless, optimism persists among industry observers. Nate Geraci, President of the ETF Store, has suggested that regulatory clearance for a spot XRP ETF could materialise sooner than anticipated, driven by the asset’s robust trading activity and the growing momentum of institutional filings.
