Breaking News: XRP ETFs and the Mysterious Date That Never Comes

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TL;DR

  • ProShares got the green light for some XRP futures ETFs, but don’t hold your breath for a launch date anytime soon.
  • US investors are still waiting for the elusive spot XRP ETF, with big names like Grayscale, Franklin Templeton, and Bitwise pacing back and forth like anxious parents.

Not so Fast?

So, Ripple’s been causing a bit of a stir lately, with three shiny new XRP ETFs approved in the U.S. These gems, courtesy of ProShares, are the Ultra XRP ETF, Short XRP ETF, and Ultra Short XRP ETF. No, that’s not a typo—there’s a *short* XRP ETF. How fun!

All this buzz led to a nice little price bump for XRP. The official launch? Well, it was supposed to be on April 30. But wait—there’s a twist. James Seyffart, a research analyst at Bloomberg, gave us a sobering update.

“We don’t have a confirmed launch date yet, but we believe they will launch – and likely launch in the short or possibly medium term,” Seyffart said, adding a generous helping of non-commitment to his statement.

Some folks on X (formerly Twitter, but we’re still adjusting) loved the clarification. Others? Well, they weren’t thrilled, accusing Seyffart of pouring cold water on the XRP party.

“Nice try… but the spirit does not go back into the bottle,” one user bravely declared, apparently on a quest to keep the hype train rolling.

ETFs Everywhere, But Still No Spot

ProShares isn’t the only player in the XRP ETF game. Vermont-based Teucrium also got the thumbs-up to launch the first-ever XRP ETF in the U.S. (and they didn’t even have to cross state lines!). It’s now listed on NYSE Arca, giving investors leveraged exposure to the wild and unpredictable ride of XRP. In case you missed it, the fund raked in $5 million on its debut day. That’s like finding a five-dollar bill in your couch cushions, except way more exciting.

But here’s the kicker: We still don’t have a spot XRP ETF in the U.S. Big names like Grayscale, Franklin Templeton, and Bitwise are all in hot pursuit of that sweet, sweet approval. And there are rumors (totally unconfirmed, but fun to repeat) that BlackRock and Fidelity might join the fray. Meanwhile, they’re playing it cool on the sidelines, probably sipping iced coffees and pretending they’re not interested.

Meanwhile, down in Brazil, the world’s first spot XRP ETF has already been approved. It launched in February, thanks to the Brazilian Securities and Exchange Commission (CVM), and it’s available on the B3 stock exchange. Because why let the U.S. have all the fun, right?

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2025-04-29 12:08