- ProShares files for XRP futures ETF with SEC, targeting April 30 launch date.
- Filing hints at inverse XRP exposure, avoiding spot markets and leverage risks.
- XRP tops altcoin ETF interest as the Ripple case adds fuel to institutional demand.
ProShares Trust has officially filed for a futures-based XRP ETF, with an expected launch date of April 30, 2025. The proposal, submitted under SEC Form N-1A, could reshape access to XRP through regulated, exchange-traded products.
Crypto Analyst Buzz Builds Ahead of SEC Decision
As reported by Brett on X, ProShares’ filing marks a “bombshell” move for XRP exposure through traditional brokerage accounts. He noted the SEC’s paragraph (b) filing checkbox, signaling a defined effective date of April 30, bypassing longer review windows. The form, listed as Pre-Effective Amendment No. 339, was filed under both the Securities Act of 1933 and the Investment Company Act of 1940.
Brett highlighted ProShares’ intent to simplify XRP access by removing the need for crypto exchanges entirely. The move aligns with a broader trend of crypto ETF proposals, especially following speculation around a Ripple-SEC case resolution. He also pointed out XRP now leads all altcoins in ETF filings, according to recent Kaiko research.
John Squire, a noted crypto analyst, called the filing “real momentum” and suggested it’s no longer a matter of recognition but of timing. He tied the ETF move to increased institutional attention, driven by XRP’s unmatched liquidity among altcoins. If approved, he said, it could offer a significant credibility boost within traditional finance.
Filing Structure Points to Short XRP Futures Exposure
The SEC registration statement shows ProShares filed for a “Short XRP Strategy ETF,” structured under its Trust’s ETF framework. The fund seeks exposure to XRP futures rather than holding the token directly, in line with prior crypto ETF launches. No ticker symbol was disclosed within the filing, and no marketing materials were attached.
Custodial arrangements are likely managed through JPMorgan entities, with fund records stored across multiple compliance vendors. The application lists ProShare Advisors LLC as the investment adviser and SEI Investments as a principal underwriter. No leverage, spot holdings, or staking strategies were indicated, pointing to a purely inverse futures-based product.
XRP Leads Altcoin ETF Interest as Ripple Case Looms
Besides ProShares, firms like 21Shares, Bitwise, and CoinShares have submitted XRP-related ETF filings over the past 90 days. XRP now surpasses Solana, Litecoin, and Dogecoin in regulatory filings for futures or trust-based ETFs. Liquidity metrics from Kaiko suggest XRP maintains tighter bid-ask spreads and higher volume consistency.
The SEC filing followed renewed speculation around the Ripple case potentially nearing resolution. Squire cited that any settlement could accelerate XRP’s mainstream adoption timeline. ProShares’ timing appears calculated, arriving just as institutional sentiment around Ripple’s legal position strengthens.
