Is This the Crypto Moment You’ve Been Waiting For? XRP ETFs Are Coming!

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The U.S. Securities and Exchange Commission (SEC), in its infinite wisdom, has granted the green light for ProShares to roll out not one, not two, but three XRP exchange-traded funds (ETFs). The grand unveiling is set for April 30, 2025. A date as promising as the start of a new season of your favorite drama. Grab your popcorn. 🍿

But wait—before you get too excited, let me burst that bubble: these aren’t your run-of-the-mill spot ETFs. Oh no. ProShares’ ETFs are set to offer exposure through derivatives. Yes, you heard that right—derivatives. The kind of financial products that make even the most seasoned analysts raise their eyebrows. 🙄

“This is NOT a spot XRP ETF,” wrote ETF expert Nate Geraci on X, with all the conviction of a man who just found out the Wi-Fi was down. “Instead, it will involve a bunch of leveraged and inverse ETFs obtaining XRP exposure via derivatives.”

The Search for the Elusive Spot XRP ETF Continues

The products are about as exciting as a trip to the dentist, though perhaps a bit more profitable (for some). There’s the Ultra XRP ETF, a double-leverage creation that promises to offer 2x the daily returns of XRP future prices. Then there’s the Short XRP ETF, which lets investors profit from the inevitable downward spiral of XRP’s price. For the boldest of souls, the Ultra Short XRP ETF offers a delicious -2x of the crypto’s daily performance. Get ready for some drama, folks. 💀

The SEC’s decision to allow leveraged products before a spot ETF is about as perplexing as your aunt’s obsession with knitting. Most other crypto ETFs, including the well-known Bitcoin and Ethereum funds, followed the opposite path. “Why these first?” mused Geraci, no doubt sipping his morning coffee in a haze of confusion.

Earlier this month, the SEC green-lighted Teucrium’s 2x Long Daily XRP ETF (XXRP), the first leveraged XRP product. Could it be a sign that the SEC is warming up to derivatives-based exposure over the nightmare of holding crypto directly? 🤔

“It could be about the SEC’s comfort with derivatives,” mused a user on X, offering a theory that seems as plausible as any. “Or perhaps they’re testing the waters for leveraged products before the inevitable spot ETF.”

This approval comes hot on the heels of the SEC’s high-profile settlement with Ripple Labs, the company behind XRP. After a years-long court battle, Ripple was slapped with a relatively modest $50 million fine—far less than the original $1 billion the SEC wanted. Let’s call it a victory for Ripple, but more importantly, a giant leap for crypto-kind. 💸

A Milestone in the Making, or Just Another Day in Crypto?

ProShares, which manages over $60 billion in assets (yes, that’s billion with a B), isn’t exactly a stranger to crypto-based products. In 2021, it made headlines when it launched the first Bitcoin futures ETF (BITO). Now, it’s stepping into the XRP ring, a move that brings it a certain… credibility. Some would even call it “clout.” 😎

Arthur, a well-known XRP commentator on X, calls it a “historic milestone” for XRP. Apparently, it’s opening the doors to a future where banks, institutional investors, and retail traders all get a piece of the XRP pie. Welcome to the “big leagues,” as Arthur puts it. But will there be a flood of cash, or will it fizzle like yesterday’s coffee? ☕

Meanwhile, XRP’s price has risen by 4.6% in the last 24 hours, hovering around $2.28. It’s a bit of a rollercoaster, though, having ranged between $2.17 and $2.29. Over the past week, it’s up 7.4%, but it’s still trailing behind the broader crypto market’s 8.2% rise. For the optimists, it’s a solid 5% gain in the last 30 days, and over the past year, XRP has surged an eye-popping 335%. That’s one hell of a glow-up. 💥

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2025-04-28 22:36