XRP ETF Rumors Shattered by Bloomberg

According to Bloomberg, ProShares’s futures-based exchange-traded funds (ETFs) are not going to launch on Apr. 30. 

On Sunday, several cryptocurrency media outlets reported that the U.S. Securities and Exchange Commission (SEC) had greenlit the aforementioned products. The reports were based on an old regulatory filing dating back to Apr. 15. The filing was mistakenly presented by these media outlets as a new development. 

The fake news was then uncritically shared by a plethora of social media accounts, even though there was no official confirmation from ProShares. 

As reported by U.Today, ProShares, which originally filed to launch the ETFs in January, picked Apr. 30 as the target date for the launch earlier this month. However, there was no guarantee that the product would go live on this specific day. 

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According to Bloomberg, there is no confirmed launch day for the XRP ETFs as of this Monday. However, they are expected to go live in the short or, possibly, in the medium term. 

As reported by U.Today, a leveraged Bitcoin ETF offered by Teucrium went live earlier this week. The ETF’s launch was quite successful for such a relatively arcane product. Teucrium CEO Sal Gilbertie described the debut as “terrific” and “overwhelming.” 

Meanwhile, there are already plenty of pending spot XRP ETF applications from ProShares, Grayscale, Bitwise, Canary Capital, 21Shares, WisdomTree, CoinShares, Franklin Templeton, and other issuers. SEC Chair Paul Atkins will have to weigh in on these applications later this year.