ProShares to Launch Three XRP Futures on ETFs on April 30 After SEC Approval

ProShares is set to launch three new XRP futures-based ETFs on April 30, 2025, following tacit approval from the U.S. Securities and Exchange Commission (SEC). The new offerings — the Ultra XRP ETF (providing 2x leveraged exposure), the Short XRP ETF, and the Ultra Short XRP ETF (providing -2x leveraged exposure) — will track Ripple’s XRP token through futures contracts rather than direct holdings. The SEC did not raise objections during the review period, clearing the way for ProShares to proceed.

This announcement comes shortly after Teucrium Investment Advisors LLC launched the first XRP-focused ETF in the U.S. earlier this month. Like the ProShares funds, Teucrium’s ETF offers leveraged exposure to XRP without directly holding the asset, marking a significant development for crypto-based investment vehicles.

Bloomberg Senior ETF Analyst Eric Balchunas pointed out the unusual nature of a new asset’s first ETFs being leveraged, particularly given that a spot XRP ETF has not yet been approved.

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ProShares’ new ETFs will offer investors leveraged and inverse exposure to XRP’s price movements through futures contracts. The products were initially proposed in January 2025, and after a quiet SEC review period, ProShares received the green light to move forward.

Adding to the momentum, CME Group recently announced it would begin listing XRP futures contracts on its U.S. derivatives exchange, alongside its existing Bitcoin, Ethereum, and Solana offerings. CME’s XRP futures will feature two different contract sizes and daily cash settlements, signaling growing institutional interest in XRP within regulated markets.

These ETFs represent part of ProShares’ broader push to expand its cryptocurrency investment product lineup in the U.S. regulated financial sector. While the SEC has yet to approve any spot XRP ETFs, ProShares’ application for a spot XRP fund is still under review, along with proposals from Grayscale, 21Shares, and Bitwise.

Despite regulatory uncertainty surrounding spot XRP ETFs, ProShares is moving ahead with these futures-based funds, which will become the second, third, and fourth XRP ETFs available in the U.S. This move highlights ProShares’ commitment to strengthening its position in the digital asset space, amid increasing interest from both retail and institutional investors.

As the market prepares for the April 30 launch, XRP’s price — currently around $2.23 — has gained approximately 1.1% over the past 24 hours.