ProShares Sets April 30 Target for XRP Futures ETF Launch

ProShares, a leading exchange-traded fund (ETF) issuer, has updated its filing to set April 30 as the target date for launching its XRP futures-based ETF. While this signals the product is nearly ready, there is no guarantee it will start trading on that specific date. Originally filed in January, the ETF will be based on XRP futures contracts and swap agreements, meaning it won’t directly hold XRP tokens.

This proposed ETF is seen as a key step toward the eventual launch of a spot-based XRP ETF. ProShares previously made headlines in 2021 with the launch of the first Bitcoin futures ETF (BITO), a groundbreaking but initially short-lived success. That debut set the stage for the much-anticipated approval of spot Bitcoin ETFs, which finally arrived in early 2024.

Market sentiment suggests the wait between futures and spot XRP ETFs may be significantly shorter. Analyst Nate Geraci has expressed confidence that the current SEC leadership is likely to approve a spot XRP ETF sooner rather than later. Betting platform Polymarket also reflects optimism, with many expecting approval within the year. Several filings, including one from Franklin Templeton, are still pending.

Adding to XRP’s momentum, data firm Kaiko reports that XRP has surpassed Solana in the spot ETF race, citing its increasing market depth and the successful launch of Teucrium’s leveraged XRP ETF. If trends continue, XRP could soon see broader institutional exposure through both futures and spot ETF products, further validating its role as a major player in the crypto market.

With ProShares’ track record and rising investor interest, the XRP ETF rollout could mark another pivotal milestone in the growing crypto ETF ecosystem.