ProShares Futures-Based ETFs Not Launching on April 30, Bloomberg Reports

Several cryptocurrency media outlets incorrectly reported over the weekend that the U.S. Securities and Exchange Commission (SEC) had approved ProShares' futures-based exchange-traded funds (ETFs) for launch on April 30. According to Bloomberg, these reports were based on an outdated regulatory filing from April 15 that was mistakenly circulated as a recent development.

The misinformation quickly spread across social media platforms despite the absence of any official confirmation from ProShares. Earlier this month, ProShares had indeed selected April 30 as a target date for the launch but did not guarantee the product would go live on that day.

As of Monday, Bloomberg reports there is still no confirmed launch date for the ProShares XRP futures-based ETFs, although they are anticipated to debut in the near to medium term.

Meanwhile, interest in cryptocurrency-related ETFs continues to grow. Teucrium recently launched a leveraged Bitcoin ETF, which CEO Sal Gilbertie described as having a “terrific” and “overwhelming” debut despite the niche nature of the product.

Several firms — including Grayscale, Bitwise, Canary Capital, 21Shares, WisdomTree, CoinShares, Franklin Templeton, and others — have also filed applications for spot XRP ETFs. SEC Chair Paul Atkins is expected to review these proposals later this year.