SEC Approves April 30 Launch for XRP ETF by ProShares Trust

The SEC has given the green light for ProShares Trust to proceed with its XRP ETF offerings, officially setting April 30, 2025, as the effective date. According to a newly filed Form N-1A, the launch will cover multiple XRP-focused ETFs.

The registration update specifies that the amendment designates a new effective date for a previously filed amendment regarding the ProShares UltraShort XRP ETF, ProShares Ultra XRP ETF and ProShares Short XRP ETF. The SEC filing notes that the amendment was made solely for the purpose of setting the April 30 launch.

Related

Important to note, that such ETFs don’t get the same stamp of approval from the SEC as spot products do. They only go into effect if the agency doesn’t object within a certain time period after filing. The filing shows that no immediate effectiveness upon filing was selected, with April 30, 2025, chosen for the effective date.

The Trust’s principal executive offices are located in Bethesda, Maryland, with ProShare Advisors LLC serving as the investment advisor. Richard Morris of ProShare Advisors is listed as the agent for service, supported by legal counsel from Dechert LLP in New York.

This launch is a strategic move for ProShares Trust into the digital assets sector, which lines up with the firm’s  efforts to offer investment products tied to cryptocurrencies. The funds are structured under a mutual fund framework and are registered in compliance with both the Securities Act and the Investment Company Act.

Related

The ProShares XRP ETFs are set to provide leveraged and inverse exposure to the price movements of XRP, offering investors more options to access the popular alternative cryptocurrency through regulated financial products.

This isn’t a spot ETF offering for XRP, though, which a lot of enthusiasts are still waiting for. Market participants are now looking toward the April 30 launch as a big development for XRP-focused investment vehicles within the U.S. regulated environment.