Confusion rippled through the cryptocurrency community after unverified reports claimed that ProShares was set to launch an XRP ETF on April 30. However, these claims have been firmly debunked by industry experts and the company itself. Bloomberg ETF analyst James Seyffart clarified that there is no official launch date for any XRP-based exchange-traded fund (ETF) from ProShares. The misinformation stemmed from a misinterpretation of an old regulatory filing, which some outlets incorrectly portrayed as breaking news.
Despite the false rumors, market sentiment around XRP remains strong. The digital asset continued its bullish momentum, trading at $2.29—a 0.59% increase from its intraday low. Over the same period, XRP’s 24-hour market capitalization rose by 1% to $133.9 billion, while trading volume surged 28% to $4.53 billion, reflecting heightened investor interest.
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ProShares Denies Immediate XRP ETF Plans
In a clear statement, a ProShares spokesperson confirmed: “ProShares does not have any ETF launches scheduled for Wednesday, April 30. We have no further news to share at this time.” This aligns with Seyffart’s assessment, who emphasized that while an XRP-related ETF could arrive in the short to medium term, no concrete timeline has been established.
The initial speculation was fueled by a regulatory document filed on April 15—information that was already public but misrepresented as a recent development. This misreporting spread quickly across social media and crypto news platforms before being corrected. Analysts warn that such incidents highlight the need for due diligence when interpreting regulatory filings, especially in fast-moving markets.
Even without an imminent ETF launch, the mere discussion of XRP financial products continues to influence market dynamics. Investor anticipation builds with each regulatory update or institutional move involving Ripple’s native token.
Futures-Based XRP ETFs Likely, Not Spot Products
While a spot XRP ETF remains off the table for now, the more likely path involves futures-based products. According to Nate Geraci, President of The ETF Store, upcoming XRP ETFs—including those potentially offered by ProShares—are expected to be based on futures contracts rather than direct holdings of XRP.
This approach allows investors exposure to XRP price movements without requiring the fund to custody the actual cryptocurrency. Futures-based ETFs face fewer regulatory hurdles compared to spot ETFs, which the U.S. Securities and Exchange Commission (SEC) scrutinizes more closely due to concerns over market manipulation and custody standards.
Geraci also noted that these new funds may include leveraged and inverse options, enabling traders to bet on both upward and downward price swings. For example, Teucrium recently launched the 2x Long XRP ETF (XXRP), which uses swap agreements to deliver twice the daily return of XRP. As of now, XXRP manages approximately $42.79 million in assets under management (AUM), signaling early institutional appetite for structured XRP products.
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SEC Still Evaluating Ripple ETF Applications
The SEC has not yet approved any spot XRP ETF applications, putting the U.S. behind other markets like Brazil, where the first XRP ETF has already gone live. Major asset managers—including Grayscale, Bitwise, and Franklin Templeton—are still awaiting decisions on their filings.
This regulatory caution raises questions about why futures-based products appear closer to approval than spot alternatives. Experts suggest that futures markets are more familiar to traditional finance regulators and offer clearer pricing mechanisms through regulated exchanges like CME.
Despite delays, optimism is growing. Polymarket data shows the probability of a U.S.-listed XRP ETF approval in 2025 has increased by 8%, now sitting at 78%. This shift reflects increasing confidence following ProShares’ rumored involvement and broader institutional engagement with Ripple-related financial instruments.
The appointment of new SEC Chair Paul Atkins later this year could prove pivotal. His stance on digital assets and ETF regulation may accelerate or delay final rulings on pending applications.
Frequently Asked Questions (FAQ)
Q: Is there going to be an XRP ETF in 2025?
A: While no official launch date has been confirmed, market indicators suggest strong potential for a futures-based XRP ETF in 2025. Approval odds are currently estimated at 78% on prediction markets like Polymarket.
Q: Why hasn’t the SEC approved a spot XRP ETF yet?
A: The SEC applies stricter scrutiny to spot ETFs due to concerns about price manipulation, liquidity, and secure custody of digital assets. Futures-based ETFs use regulated derivatives markets, making them easier to approve under current frameworks.
Q: What’s the difference between a spot and futures-based XRP ETF?
A: A spot ETF would hold actual XRP tokens, directly tracking their market price. A futures-based ETF tracks XRP futures contracts—financial derivatives—offering indirect exposure without owning the underlying asset.
Q: Did ProShares confirm an April 30 launch?
A: No. ProShares explicitly stated they have no ETF launches scheduled for April 30 and are not releasing additional information at this time.
Q: How did the false rumor start?
A: Misinterpretation of an April 15 regulatory filing led several outlets to report it as new news, triggering viral speculation before corrections were issued.
Q: Can I invest in XRP ETFs today?
A: Not in the U.S., but investors can access similar exposure through products like Teucrium’s XXRP or international offerings such as Brazil’s XRP ETF.
Key Takeaways for Investors
Although the April 30 XRP ETF launch was a false alarm, the conversation underscores growing momentum behind institutional adoption of Ripple’s ecosystem. Futures-based ETFs represent a realistic near-term pathway for U.S. investors seeking regulated exposure to XRP.
Market reactions show that even unconfirmed news can drive significant volume and price action—highlighting the importance of timely information and risk management. As regulatory clarity improves and major financial players enter the space, structured crypto products are likely to expand beyond Bitcoin and Ethereum into assets like XRP.
For now, investors should focus on credible sources, monitor SEC filings closely, and consider diversified strategies that align with evolving market conditions.
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