On April 28, the U.S. Securities and Exchange Commission (SEC) document showed that the SEC has approved ProShares Trust to launch three XRP futures-based ETF trading platforms on April 30, namely ProShares UltraShort XRP ETF, ProShares Ultra XRP ETF, and ProShares Short XRP ETF. This move provides investors with a way to gain price exposure without directly holding XRP tokens, serving as an important supplement to XRP's financial product ecosystem.
Each of the three approved futures ETFs has its characteristics: ProShares Ultra XRP ETF aims to provide twice the return of XRP futures prices; ProShares UltraShort XRP ETF offers twice the inverse return; ProShares Short XRP ETF provides one-times inverse return. Their launch enriches investors' trading strategy choices, marks XRP's further mainstream financial market attention, and paves the way for potential spot ETFs in the future.
According to the SEC document, the fund is managed by ProShare Advisors, with an annual expense ratio of approximately 0.95%, which is lower than actively managed funds but higher than traditional stock ETFs. After the approval news was announced on April 27, BiyaPay data showed that XRP price rose 3.5% to $2.27, with a market value of $312 billion, currently reported at $2.34, indicating the market's enthusiastic response to the ETF.
The approval of XRP futures ETF makes it the third crypto asset to receive U.S. ETF approval after Bitcoin and Ethereum, and the first clear Altcoin futures ETF. XRP's subsequent trend is also worth watching, and this event may attract more capital into the related market, enhancing XRP trading activity. BiyaPay, as the world's first multi-asset trading wallet, demonstrates unique value, having now connected 30 fiat currencies with 200 digital currencies for instant exchange, allowing users to directly participate in U.S. and Hong Kong stock markets through 1:1 USDT to USD exchange, with zero handling fees for spot/contract Maker.
