Ripple has once again captured the spotlight following the approval of three XRP-based exchange-traded funds (ETFs) in the United States. These new investment products, the Ultra XRP ETF, Short XRP ETF, and Ultra Short XRP ETF, are being introduced by ProShares, a major player in the ETF space.
The announcement triggered a notable surge in XRP’s market value, reflecting growing investor excitement around broader institutional access to the asset. The ETFs were initially rumored to launch on April 30, but recent updates have cast doubt on the timeline.
Bloomberg: No Official Launch Date Yet
James Seyffart, a research analyst at Bloomberg Intelligence, stepped in to clarify the situation. In a recent post on X (formerly Twitter), Seyffart stated that although the ETFs have been approved, their actual launch is not yet confirmed.
“We don’t have a confirmed launch date yet, but we believe they will launch and likely launch in the short or possibly medium term,” Seyffart explained.
While some community members appreciated the update, others accused Seyffart of attempting to dampen the enthusiasm. One user sarcastically responded, “Nice try… but the spirit does not go back into the bottle,” highlighting how excitement in the XRP community remains strong regardless of the uncertainty.
Growing Momentum for XRP-Based ETFs
ProShares’ ETF approval follows closely behind the Teucrium XRP ETF, which launched on NYSE Arca less than a month ago. That fund provides leveraged exposure to XRP’s daily price fluctuations and had a strong debut, generating over $5 million in trading volume on its first day.
Despite the growing list of XRP-linked ETF products in the US, it’s important to note that no spot XRP ETF has yet been approved. Several major asset managers, including Grayscale, Bitwise, 21Shares, and Franklin Templeton, are actively pursuing applications to launch spot ETFs.
There are also unconfirmed rumors that giants like BlackRock and Fidelity may be eyeing similar moves, though no official filings have been made public as of now.
Global Spotlight: First Spot XRP ETF Already Live in Brazil
While the US continues to explore its stance on spot XRP products, Brazil has already made history. In February, Hashdex received approval from the Brazilian Securities and Exchange Commission (CVM) to launch the world’s first spot XRP ETF, now available on the B3 stock exchange.
The international rollout underscores the growing demand for regulated XRP investment vehicles and could put additional pressure on US regulators to move faster.
