- ProShares Trust will officially launch three XRP ETFs on April 30, 2025, following the SEC’s non-objection to its updated filing.
- The new ProShares funds will offer leveraged and inverse exposure to XRP’s price, structured under a mutual fund registration framework.
- Market participants see the launch as a significant step in expanding regulated cryptocurrency investment options beyond traditional spot ETFs.
The Securities and Exchange Commission has accepted the registration updates for ProShares Trust to proceed with its XRP-focused ETFs. The newly filed Form N-1A sets April 30, 2025, as the effective date for these offerings, marking a key step for cryptocurrency investment products in regulated markets.
The update, filed by ProShares Trust, designates a new effective date for an earlier amendment involving three funds. These include the ProShares Ultra XRP ETF, the ProShares UltraShort XRP ETF, and the ProShares Short XRP ETF. The filing emphasizes that the update only changes the launch date and does not introduce other material alterations.
Unlike some filings, the ProShares ETFs are not immediately effective upon submission. Instead, the SEC sets a waiting period, and if there is no objection, the products automatically become effective on the specified date. Consequently, the new ETFs will be effective on April 30 without further SEC action if no issues arise before then.
Structure of the New XRP ETFs
The new funds are designed to offer leveraged and inverse exposure to the price movements of XRP. Besides, the products will not track the spot price of XRP directly, which remains a separate regulatory matter many investors await. The ETFs are structured under a mutual fund format and registered under both the Securities Act and the Investment Company Act.
ProShares Trust, headquartered in Bethesda, Maryland, continues to expand its footprint in digital assets through this strategic move. ProShare Advisors LLC serves as the investment advisor for these funds, with Richard Morris listed as the agent for service. The legal aspects of the filing are supported by Dechert LLP based in New York.
Although the ProShares XRP ETFs do not offer direct exposure to the underlying asset like spot ETFs, they provide new options for investors. Additionally, they increase accessibility to XRP’s market movements in a regulated investment framework. The April 30 launch is now closely watched by market participants anticipating broader cryptocurrency investment choices within U.S. regulations.
