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ProShares Clarifies Stance on XRP ETF Launch
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Recent reports suggested the imminent launch of ProShares’ XRP ETF; however, the asset manager has clarified that there is no such launch scheduled in the near future. A ProShares representative confirmed that there are no plans for an XRP ETF launch on April 30, and updates on future launches remain undisclosed.
Industry Feedback on ETF Rumors
James Seyffart, a Bloomberg analyst, echoed ProShares’ denial of the April 30 launch rumors via a post on the X platform. He mentioned that while the exact date for the launch is still uncertain, there is confidence that the ETF might debut in the near or medium term.
SEC Filing and Future Projections
In a recent filing with the SEC, ProShares proposed a potential launch date of May 14 for the XRP ETF, pending regulatory approval. This ETF will focus on XRP futures, not the spot market, and will offer exposure through leveraged contracts rather than direct altcoin investment.
Market Developments in the XRP Arena
This month saw Teucrium Investment Advisors introduce the first-ever leveraged XRP ETFs in the United States. In a related development, the CME Group is planning to expand its crypto offerings by adding XRP futures on May 19, contingent on regulatory approval. This move could further bolster the case for a Spot XRP ETF.
Meanwhile, the SEC has postponed its decision regarding Franklin Templeton’s XRP ETF proposal. Analyst Seyffart anticipates that a verdict from the SEC might arrive later in the year, possibly in the fourth quarter.
Upcoming Dates of Interest for XRP Enthusiasts
As the interest in XRP-related investment products grows, other major asset managers like BlackRock are yet to announce their involvement. Notably, an influential member of the XRP community, known as Bale, hinted at two crucial dates: May 1 and June 9. These dates could potentially mark significant developments in BlackRock’s stance on XRP ETFs.
Speculations on BlackRock’s Moves
Bale revealed through a post on X that during his meeting with a BlackRock representative, these dates were highlighted as significant. This has fueled speculation that BlackRock might be preparing to file for an XRP ETF during this period.
As the XRP market continues to evolve, the anticipation surrounding these developments underscores the growing interest in cryptocurrency investment vehicles.
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