XRP ETFs News: ProShares Receives SEC Approval for Three Funds

Cryptocurrency is changing fast. One of the latest big moves comes from ProShares. They just got approval from the SEC for three new XRP ETFs. This is a big moment for crypto fans and investors.

We have seen Bitcoin and Ethereum get their ETFs. Now, it’s XRP’s turn to shine. XRP has been one of the top cryptocurrencies for years. It is known for fast transactions and low fees. Many people trust it, but legal battles have slowed its growth. Now things are different. After a long fight, a U.S. court said XRP sales on public exchanges are not securities. This opened the door for companies like ProShares to create new investment products based on XRP.

Let’s explore why this SEC approval is important. We’ll discuss what it means for XRP, the crypto market, and investors like us. 

ProShares’ SEC Approval: A Milestone Achievement

On April 28, 2025, the SEC approved ProShares to launch three XRP futures ETFs, scheduled for release on April 30. These ETFs are not spot-based. They use leveraged and inverse strategies. Investors can bet on XRP’s price moves. They do not have to own XRP directly. They work through derivatives.

This approval is noteworthy given the SEC’s historical hesitance toward cryptocurrency-based ETFs. While spot Bitcoin ETFs received approval in early 2024, this marks the first time the SEC has greenlit XRP-related ETFs, albeit futures-based. The decision indicates a gradual shift in regulatory attitudes, potentially paving the way for future spot XRP ETFs.​

The Growing Landscape of XRP ETF Applications

Beyond ProShares, several prominent asset managers have filed applications for XRP ETFs:​

• Bitwise: Submitted a spot XRP ETF proposal, currently under SEC review. ​
• 21Shares: The SEC has accepted the application. This starts the official review process.
• Canary Capital: They filed for a spot XRP ETF. It plans to hold XRP directly. Its value will follow the CME CF Ripple-Dollar Reference Rate.
• WisdomTree: Proposed an XRP ETF to be listed on the Cboe BZX Exchange, with the application acknowledged by the SEC.
• Grayscale: They applied for a spot XRP ETF. The SEC accepted it. This started a 240-day review period.
• Franklin Templeton: Submitted a preliminary application for a spot XRP ETF, with the SEC’s decision expected by late 2025. ​
• Volatility Shares: They filed for three XRP ETFs. One is a spot ETF. One is a 2x leveraged ETF. The last is a 1x inverse ETF.
• CoinShares: Offers a physically-backed XRP ETP, providing direct exposure to XRP.

These applications reflect a growing interest in XRP-based investment products, with several filings currently under SEC review.

Regulatory Shifts and Legal Precedents

The SEC sued Ripple Labs in December 2020. They said Ripple sold XRP as an unregistered security. In July 2023, a U.S. court said XRP sales on public exchanges were not securities. In March 2025, the SEC dropped its appeal. This ended the long legal fight.

The legal clarity has changed the XRP ETF scene. Since XRP is no longer a security, asset managers feel confident creating ETFs based on it. The lawsuit’s end removed a big regulatory barrier. This led to a rise in XRP ETF applications.

Market Implications of XRP ETF Approvals

The approval of XRP ETFs is poised to have several market implications:​

• After ProShares’ ETFs were approved, XRP’s price went up. This rise shows investor optimism.
• ETFs offer a regulated investment option. This could attract both institutional and retail investors who were unsure about directly investing in cryptocurrencies.
• XRP ETFs mark a step toward wider acceptance of altcoins. This could lead to more adoption and integration in traditional financial markets.

Challenges and Considerations

Despite the positive developments, several challenges remain:

• While the SEC is more open now, the approval of spot XRP ETFs is still pending. Future regulatory changes could affect the market.
• It’s important to understand the differences between spot, leveraged, and inverse ETFs. Leveraged and inverse ETFs are riskier and better for experienced investors.
• As new financial products come out, educating investors on the risks and how they work is key. This ensures they make informed decisions.

The landscape for XRP ETFs is changing fast. Many applications are under SEC review. We might see approvals for spot XRP ETFs by late 2025. If successful, this could open the door for ETFs based on other altcoins. This would bring cryptocurrencies further into the mainstream financial world. The talks between regulators and industry experts will be key in shaping the future of crypto investment products.

Final Thoughts 

The SEC’s approval of ProShares’ XRP futures ETFs represents a significant advancement in the intersection of cryptocurrency and traditional finance. This development, coupled with the resolution of regulatory challenges, underscores the maturing system of digital assets. 

As we look ahead, the potential for further ETF approvals and increased adoption signals a promising future for XRP and the broader crypto market.

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