ProShares, the trailblazing ETF issuer that brought the first Bitcoin futures ETF to the market in 2021, has now set its sights on XRP.
According to its updated filing, April 30 has been selected as the target launch date for the company’s futures-based XRP ETF. This announcement signals that the product is prepared for market debut, though investors should note that this date remains tentative and is not guaranteed.
The proposed ETF represents a strategic approach to XRP exposure, as it will not directly invest in the cryptocurrency itself but rather in XRP futures contracts and swap agreements.
Making History With XRP
This structure allows investors to gain exposure to XRP price movements through a regulated financial product without directly owning the digital asset. While this may seem like a compromise to some crypto enthusiasts, it represents a significant advancement in mainstream cryptocurrency adoption.
ProShares’ move follows the path established by its Bitcoin futures ETF (BITO), which made headlines in 2021 with its successful launch. The company appears to be leveraging its experience with Bitcoin to expand its digital asset offerings, this time focusing on XRP, which has maintained its position as one of the top cryptocurrencies by market capitalization despite regulatory challenges.
The ProShares filing suggests the firm has likely received tacit approval from the SEC, as there was no formal objection during the review period. Adding to the significance of this development, ProShares also plans to introduce short and ultra-short leveraged XRP ETFs concurrently, offering sophisticated investors additional tools for trading XRP price movements.
It’s worth noting that these futures-based ETFs operate under a different regulatory framework than spot products. They become effective if the SEC doesn’t object within a specified timeframe after filing, rather than requiring explicit approval. According to the filing, ProShares has selected April 30, 2025, as the effective date, rather than requesting immediate effectiveness.
The company will manage the ETF from its Bethesda, Maryland headquarters, with ProShare Advisors LLC serving as the investment advisor and Richard Morris as the designated agent for service. Legal support comes from Dechert LLP in New York, ensuring compliance with relevant securities regulations.
Accelerated Timeline For Spot XRP ETF Approval Expected
Unlike the extended two-year wait between Bitcoin futures ETFs and spot Bitcoin ETFs, market analysts anticipate a much shorter timeline for XRP. The gap between futures-based and spot-based XRP ETFs is widely expected to be considerably narrower, with Polymarket betting odds suggesting approval could come as early as this year.
“I simply don’t see this SEC not approving spot XRP ETF. And sooner, rather than later,” remarked analyst Nate Geraci on social media, reflecting growing industry confidence in regulatory approval. This optimism is further supported by data from Kaiko indicating that XRP has surpassed Solana in the spot ETF race, thanks to increasing market depth and the successful introduction of Teucrium’s leveraged XRP ETF.
More than a dozen spot XRP ETF applications are currently pending with the SEC, including one from financial giant Franklin Templeton. This surge in institutional interest marks a dramatic shift for XRP, which has weathered significant regulatory scrutiny in recent years.
This strategic expansion into the digital assets sector aligns with ProShares’ broader efforts to develop cryptocurrency-linked investment products within a regulated mutual fund framework. The funds are structured to comply with both the Securities Act and the Investment Company Act, providing investors with institutional-grade access to the evolving crypto market.
For XRP holders and potential investors, April 30 represents more than just another product launch—it signals growing mainstream acceptance of XRP and potentially paves the way for even broader institutional adoption in the near future.