ProShares to launch leveraged, short XRP futures ETFs on April 30

ETF issuer ProShares will launch three futures-based funds that track the price of Ripple's XRP token on April 30, a new SEC filing shows. 

The funds — an Ultra XRP ETF (2x leverage), a Short XRP ETF, and an Ultra Short XRP ETF (-2x leverage) — were proposed in January . The funds recently received the tacit approval of the SEC, which declined to raise any objections during the review period. 

The funds will be the second, third, and fourth ETFs tracking the price of XRP available on the U.S. market. However, ProShares' separate application for a spot XRP ETF is still awaiting approval, according to The Block's ETF Tracker , alongside similar proposed spot funds from asset managers such as Grayscale, 21Shares, and Bitwise. 

Vermont-based asset manager Teucrium Investment Advisors LLC launched the first XRP ETF in the U.S. market earlier this month , similarly offering leveraged exposure to the price of XRP without holding the asset directly. "Very odd (maybe a first) that a new asset’s first ETF is leveraged. Spot XRP still not approved, [although] our odds are pretty high," Bloomberg Senior ETF Analyst Eric Balchunas said in a post on X at the time.

The news comes shortly after CME Group announced it would add XRP futures to its derivatives exchange, the largest in the U.S., which also lists BTC, ETH and SOL products. 

The price of XRP is up about 1.1% over the past 24 hours and is trading around $2.23, according to The Block's XRP Price page.