27-4-2025 – The U.S. Securities and Exchange Commission (SEC) has cleared the path for ProShares Trust to introduce a suite of XRP-focused exchange-traded funds (ETFs), with an official launch date set for 30 April 2025. The approval, detailed in a newly submitted Form N-1A, encompasses several ETFs, including the ProShares UltraShort XRP ETF, ProShares Ultra XRP ETF, and ProShares Short XRP ETF. According to the filing, this amendment serves solely to establish the April launch date, updating a prior submission without seeking immediate effect upon filing.
Headquartered in Bethesda, Maryland, ProShares Trust is steering this initiative under the guidance of ProShare Advisors LLC, its investment adviser. Richard Morris, representing ProShare Advisors, acts as the service agent, with legal support provided by Dechert LLP in New York. This strategic foray into digital assets aligns with ProShares’ broader ambition to diversify its portfolio with cryptocurrency-linked products, structured as mutual funds and fully compliant with the Securities Act and the Investment Company Act.
Unlike spot ETFs, which require explicit SEC endorsement, these leveraged and inverse XRP ETFs gain approval by default if the regulator raises no objections within a stipulated period post-filing. Designed to offer investors amplified or inverse exposure to XRP’s price fluctuations, these funds mark a significant step in providing regulated avenues to engage with one of the cryptocurrency market’s leading altcoins. However, they fall short of the spot XRP ETF that many in the crypto community continue to anticipate.
