ProShares Dives into XRP Futures ETF: The Countdown Begins! 🚀

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In a twist of fate that would make even the most stoic of souls chuckle, ProShares has decided to throw its hat into the ring, preparing to unleash not one, not two, but three XRP futures-based ETFs upon the unsuspecting public. This audacious move comes on the heels of Ripple‘s recent legal tango with the SEC, which, like a magician pulling a rabbit from a hat, has miraculously cleared a path for the third-largest digital currency to strut its stuff.

ProShares Charges Ahead with XRP Futures Before the April Deadline

According to the sacred scrolls of the SEC filing, ProShares is set to unveil three new funds: the ProShares UltraShort XRP ETF, the ProShares Ultra XRP ETF, and the ProShares Short XRP ETF. Quite the mouthful, isn’t it? But fear not, dear reader, for these funds won’t be hoarding XRP like a squirrel with acorns. Instead, they’ll be using futures contracts and swap agreements to chase after the digital currency’s price movements like a dog chasing its tail.

In a delightful twist, this announcement follows the April 9 launch of the Teucrium 2x Long Daily XRP ETF, the first of its kind in the United States. This ETF made quite the splash, boasting one of the most active first-day trading sessions among newly launched funds this year. Investors, it seems, are as eager as children on Christmas morning!

ProShares aims to launch by April 30, a date that looms large as more asset managers scramble to create financial products tied to XRP. This frenzy has been fueled by Ripple’s recent legal victories, which have sent ripples (pun intended) through the market.

In a stroke of genius, crypto data provider Kaiko has identified XRP as the leading contender for a spot ETF in the US market. With spot trading volume rising and leveraged funds gaining traction, it appears that XRP is maturing faster than a fine cheese left out in the sun.

Kaiko’s report also highlights that leveraged ETFs are already being given the green light. These funds, relying on swap agreements and foreign market exposure, make it increasingly difficult for regulators to justify the rejection of a spot XRP product. Oh, the irony!

XRP Rides the Wave of Ripple’s Legal Triumph

As ProShares makes its bold move, XRP is riding a wave of momentum that would make even the most seasoned surfer envious.
XRP: $2.11
24h volatility: 1.5%
Market cap: $122.95 B
Vol. 24h: $2.68 B

In a previous update, Coinspeaker reported that Ripple Labs locked away a staggering 700 million XRP in escrow shortly after its legal battle with the SEC concluded. Many saw this as a sign of stability, while others just wondered if they could borrow a few bucks.

On the market-making front, on-chain activity revealed that Ripple Labs recently moved 200 million XRP to one of its internal wallets. This sparked a flurry of speculation among the XRP community, with many wondering if this was a prelude to a selloff or just Ripple’s way of playing hide and seek.

Despite the drama, a recent report shows that XRP led the charge in weekly inflows among all alternative cryptocurrencies, even as broader crypto investment products saw outflows exceeding $795 million. Talk about a plot twist!

In the prediction markets, sentiment around XRP remains as bullish as a stampede of cattle. On Polymarket, traders are placing their bets on a spot XRP ETF approval before the year’s end. Analysts predict that if this happens, it could attract over $8 billion in capital from institutional investors. Now that’s what I call a money party!

ProShares’ entry into the XRP ETF race is putting the pressure on regulators to respond. As more financial firms line up to offer exposure to this asset, XRP’s case as a regulated and investable product grows stronger, like a fine wine aging in a cellar. Cheers to that!

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2025-04-16 20:17