Three new XRP ETFs will be launched in the US after approval of the SEC

By Hannah Pérez

Proshares will launch three ETFs leverage of XRP in the United States after the SD granted its approval. It is the second approval of ETF based on XRP futures.

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Proshares will launch three ETFs leverage of XRP in the United States.
The SEC granted its approval and the ETFs will debut at the end of the month.
It is the second approval of ETF XRP, the first debuted at the beginning of April.

The United States market received a few weeks ago the first fund quoted in the Bolsa (ETF) of XRP, and now prepares to receive three new ones after the regulator approval.

The US stock and values commission. (Sec) has approved the list and negotiation of the applications of Proshares For three ETFs based on XRP futuresas reported on Monday COINDESK and other news media.

The investment vehicles issuer Proshares He plans to formally launch the three ETFs that track XRP on April 30, as reported. The funds are an Ultra XRP ETF (2x leverage), an XRP ETF Short and an Ultra Short XRP ETF (-2x Leveling), which offer investors a way of earning money with long and short positions of cryptocurrency.

Proshareswhich offers an ETF of Bitcoin In cash in the United States, as well as other ETF of cryptocurrencies, he had presented the proposal for XRP funds in January. The trio of products recently received the tacit approval of the SEC, which refused to raise objections during the review period, he said The Block.

The launch will occur after the asset administrator at the beginning of the month Teucrium Investment Advisors The first XRP ETF of the US market is released. The background, known as 2x Long Daily XRP ETF (XXRP), accumulated a volume of transactions of USD $ 5 million on its first day, becoming the launch “more successful“Of that firm.

The senior analyst of Bloomberg, Eric Balchunas, described as “Very strange”The approval of the first XRP leverage ETF, highlighting that it is an unprecedented fact that the SEC allows an enthlocked ETF of an asset before one from one to cash.

Waiting for an ETF XRP in cash

Meanwhile, the SEC has not yet approved a first ETF to the cash of XRP.

Cryptocurrency market participants in the United States are anxiously waiting for the regulator to grant their approval for the first time to Altcoins ETFs beyond Ethereum. The SEC approved the first ETFs of Bitcoin in cash in January 2024 followed by the ETFs of Ethereum In the case in May, but it has not been decided on a list of proposals for other tokens.

Several requests from ETF Al XRP cash have been recognized by the regulator so far, with a proposal from the Fund Administrator Grayscale facing a critical response deadline on May 22.

Proshares You are also waiting for a verdict for an ETF XRP application in cash, as well as asset managers such as 21Shares and Bitwiseto name a few. Balchunas estimates that the probabilities of approval this year are “quite high“

The news comes after CME Group will announce last week that will add future XRP to its exchange of derivatives in the United States for its launch next month, expanding its offer of products that already include BTC, ETH and Sol.

XRP, a cryptocurrency closely linked to Rippleis the largest fourth with a market capitalization of USD $ 136 billion. USD $ 2.33 is negotiated, almost 7% more in the last 24 hours at the time of writing these lines.

Hannah Estefanía Pérez / Diariobitcoin

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