ProShares XRP ETF Won’t Launch on April 30, Says Bloomberg Analyst James Seyffart

Recently, several crypto media outlets mistakenly reported that the SEC had approved ProShares’ XRP ETFs for an April 30 launch. The confusion stemmed from an old filing dated April 15, which resurfaced online and was incorrectly shared as a new development. Despite the rumors spreading quickly across social media, ProShares made no official announcement.

According to Bloomberg ETF analyst James Seyffart, while the U.S. Securities and Exchange Commission (SEC) has indeed given its approval, the launch date has been pushed back and is now expected sometime in the short to medium term. Meanwhile, Brazil has already taken the lead by approving the first XRP ETF.

ProShares Gears Up for Major XRP Futures Products

ProShares has ambitious plans for XRP exposure. The company is preparing to launch three XRP futures ETFs:

• Ultra XRP ETF offering 2x leveraged returns
• Short XRP ETF offering -1x inverse returns
• Ultra Short XRP ETF providing -2x inverse exposure

These products are aimed at institutional investors looking for regulated ways to speculate on XRP’s price swings—without the complications of holding the asset directly. Futures ETFs also help bypass many of the security and regulatory hurdles typically associated with direct crypto ownership.

Teucrium Breaks Ground, ProShares Poised to Follow

Teucrium made history earlier this month by launching the first XRP futures ETF on the New York Stock Exchange on April 8. The fund saw encouraging trading volumes from day one, signaling strong market appetite for XRP-based investment vehicles. ProShares’ upcoming entries are expected to further deepen the XRP ETF market.

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Spot XRP ETFs: Still in Limbo

While futures ETFs are gaining momentum, spot XRP ETFs remain stuck in the regulatory pipeline. ProShares, along with firms like Grayscale and 21Shares, is still waiting for the SEC’s green light. After facing initial delays in April, most applications are now looking toward a second decision window by late May. Some cases may not see a final verdict until mid-October.

Despite the uncertainty, optimism is building. JPMorgan estimates that XRP ETPs could attract between $4 billion and $8 billion in net inflows if they achieve adoption rates similar to Bitcoin and Ethereum ETFs.

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