ProShares recently issued an official announcement clarifying their plan not to launch an ETF of XRP anytime soon, prompting widespread speculation within the XRP community, with various dates such as May 1st and June 9th being considered key dates to watch for further developments.
Clarification on XRP ETF Launch Timelines
ProShares recently made it clear that they do not intend to launch their XRP ETF anytime soon – or on April 30, as previously rumored. This decision mirrored statements by James Seyffart of Bloomberg who also denied these rumors while suggesting an eventual launch could still occur in either short or medium term.
ProShares recently submitted to the SEC an ideal launch date of May 14, pending regulatory approval of their proposed ETF which is based on XRP futures rather than direct holdings of cryptocurrency; hence the focus on leveraged contracts instead.
Teucrium Investment Advisors recently unveiled the United States’s inaugural leveraged XRP ETFs and CME Group’s plans to offer futures contracts on May 19 pending regulatory approval is another exciting development investors are eagerly awaiting.
Franklin Templeton’s proposal of an ETF focused on XRP futures products is seen as an essential first step toward getting approved by the SEC as soon as possible; however, its approval could take until later this year.
Upcoming Dates of Interest
BlackRock, while showing a great deal of interest in XRP products, has remained relatively reticent regarding filing an ETF offering. A notable member from the XRP circle hinted that their engagement could soon come, suggesting May 1 and June 9 as potential dates when BlackRock could file their ETF application. This speculation sparked by this insight was soon to become reality!
