Crypto Rumors Got Folks Spinnin’ Like a Tiltin’ Windmill — Here’s the Scoop 🤠

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Now, hold your horses — notwithstanding the tall tales flyin’ round the digital campfire about the SEC givin’ a thumbs-up to a spot XRP ETF, that horse ain’t left the barn just yet. What ProShares did get the nod for is their Leveraged and Short XRP Futures ETFs, set to gallop onto the scene April 30.

Whether these false alarms sent XRP’s price dancin’ a jig today is as clear as mud, but what they did stir up was a hornet’s nest of hootin’ and hollerin’. This here fake news in the crypto corral has been spreadin’ faster than a firecracker at the Fourth of July — and that’s liable to spook the investor critters.

A US Spot XRP ETF Ain’t Yet Riding Into Town

The crypto herd’s mighty eager for an XRP ETF, especially with one already scratchin’ the prairies of Brazil since last week.

But you better saddle up with caution ’cause there’s no shortage of wide-eyed folks ready to fan the flames of hopeful rumors. True as a hound dog’s shadow, ProShares did rustle up approval for a Futures ETF, but that’s as far from a Spot ETF as a cat is from barkin’ at a snake:

UPDATE: Seems a whole posse is yappin’ that @ProShares will be launchin’ XRP ETFs come April 30th. We done checked and that’s just hogwash. No confirmed launch yet, but reckon they’ll get it done—maybe soon, maybe later.

— James Seyffart (@JSeyff) April 28, 2025

Bitcoin blazed the trail with its Futures ETF ‘fore the Spot variant moseyed in. So, the SEC givin’ the nod to XRP Futures ETFs is kinda like a green light on a dusty trail — something hopeful to chew on.

The Commission’s got a calendar marked with a looming deadline to decide these proposals, and the smart money’s sayin’ approval looks as likely as a summer thunderstorm. But that don’t change what’s on the ground right now.

XRP’s price done zigged and zagged over the last day like a mosquito in a windstorm. It’d be unjust to blame all that racket on ETF hoopla — there’s always enough shenanigans stirrin’ up trouble in the market stew.

But these rumors? They got some bite, I tell ya. Like a mischievous raccoon fiddlin’ with a fence, even bogus news can shake things up and leave a mess behind.

Confusion is the quickest way to turn a hopeful campfire into a column of smoke. Even if these tall tales gave XRP a short-lived boost, it’s no sign the ranch is running smooth. Misinformation’s like a snake in the grass — liable to bite public trust, especially those greenhorns just getting their feet wet.

Take Eleanor Terrett, for instance — she’s had her fill of the rude keyboard wranglers cloggin’ the community. She only tried to set the record straight, and yet got the digital stink eye from folks who’d rather holler than listen.

Spot ETF vs Futures ETF — What’s the Difference, Partner?

A Spot ETF is like owning the real McCoy — actual XRP tokens sit in your saddlebag, and the ETF’s value moves alongside the genuine article.^ It’s as straightforward as a Mississippi riverboat, reflecting the real-time price of XRP.

The US ain’t yet granted a pass for these Spot ETFs. The SEC’s still combing through applications from folks like Grayscale and Bitwise.

On the flip side, leveraged futures ETFs don’t lay their hands on XRP tokens. Instead, they’re dabblin’ in futures contracts — bets on where the price might mosey off to down the trail.

Because these ETFs reset their leverage daily, they can buck like a wild stallion, making them about as safe for long hauls as juggling dynamite.

Whether these XRP ETF rumors sprang from an honest mistake or some prankster’s idea of fun, they’re still as dangerous as a rattlesnake at a picnic. The crypto crowd would do well to double-check their sources and keep their wits about ’em if they want folks to trust the trail they’re blazeing.

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2025-04-28 23:32