XRP ETF Developments: Key Dates and Industry Movements
The conversation surrounding XRP Exchange-Traded Funds (ETFs) has moved beyond mere speculation, capturing the attention of industry experts and investors alike. With a series of pivotal regulatory deadlines set for July, the landscape for XRP ETFs is poised for potential transformation. A recent post by crypto influencer Nick on the social media platform X underscores the importance of this month for the industry.
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This discussion highlights a surge of ETF-related activities and the submission of new XRP fund filings. Three critical dates—July 14, July 21, and July 25—are pivotal as they could herald the launch or regulatory decision for various XRP futures and spot ETFs. Let’s delve into the specifics.
ProShares Spearheads XRP Futures ETF Initiatives
ProShares is leading the charge with three XRP futures ETF proposals, all awaiting regulatory approval. This prominent ETF issuer aims to debut these products on July 14, following a delay from their original April timeline. The proposed ETFs—Ultra XRP ETF, UltraShort XRP ETF, and Short XRP ETF—are crafted to offer both long and short exposure to XRP’s price fluctuations.
Pending the SEC’s approval by the stipulated deadline, ProShares is set to proceed with the launch of all three ETFs on July 14. Should this come to fruition, it would establish a benchmark for futures-based XRP investment opportunities in the U.S. market. This date marks a significant milestone in the July ETF frenzy.
Anticipating the Second Wave of XRP ETFs
The momentum continues on July 21 as two additional issuers enter the fray. Volatility Shares is poised to introduce its 2X XRP ETF, offering an intensified 2x exposure to the daily price movements of XRP. Concurrently, Tuttle Capital is preparing to launch its 2X Long XRP Daily Target ETF. Both firms have received SEC acknowledgment, with all required documentation filed and ready for a timely launch on the target date.
The Outlook for Spot XRP ETFs
While the SEC has greenlit several XRP futures ETFs, approval for spot-based versions remains pending. The final, and arguably most crucial, date for XRP ETFs in July is July 25. On this day, the SEC is anticipated to decide on the REX-Osprey XRP ETF, a spot ETF rather than a futures-based one.
An approval would signify a groundbreaking moment, marking one of the first Spot XRP ETFs sanctioned in the U.S. market. This decision could potentially alter the regulatory landscape, particularly given the SEC’s previous stance on XRP’s legal classification. Other major entities, including Bitwise, 21Shares, and CoinShares, have also submitted filings for spot XRP ETFs and may follow suit if the REX-Osprey decision sets a positive precedent.
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