- ProShares plans XRP ETFs, including leveraged and inverse options, amid regulatory optimism.
- SEC Chair Gensler’s impending exit aligns with Trump’s inauguration and anticipated pro-crypto SEC head.
- VanEck and CoinShares among firms racing to file diverse crypto ETFs as Trump’s term approaches.
ProShares, an asset management firm, has submitted applications to list XRP-based ETFs, which include leveraged, inverse, and futures. These filings indicate an enhanced market perception of positive regulation under the new administration of the United States of America.
ProShares Leads with XRP ETF Filings
The documents of ProShares contain leveraged and inverse ETFs designed to deliver two or three times the opposite return of XRP. Furthermore, the proposed XRP futures ETF intends to bring institutional investors XRP price exposure through derivatives.
According to the recent filing, ProShares is seeking to expand its offering of crypto ETFs. The asset manager recently debuted the first short Ether futures ETF and is now broadening the product line to include other major digital currencies. This rise in filings seen in the past indicates that investors are more confident in the present and future conditions, says Nate Geraci, President of The ETF Store.
Other Asset Managers Join the ETF Race
ProShares is not the only company interested in crypto ETFs. Similarly, other significant contenders filed their applications in the last few weeks. VanEck suggested the Onchain Economy ETF, an investment in companies involved in the digital shift. Canary Capital has applied for a Litecoin ETF, and Oasis Capital has launched a Digital Asset Debt Strategy ETF focusing on convertible bonds from firms within the digital asset sector.
CoinShares also filed for a Digital Asset ETF that tracks the top 10 digital assets. The fund would comprise Bitcoin, Ethereum, Solana, and XRP—all if they satisfy liquidity criteria. These filings indicate increasing investor interest in different crypto investment products that address risk profiles.
Market Optimism Grows as Leadership Changes Loom
The wave of ETF proposals arrives as the crypto industry anticipates a CEO change at the SEC. The President-elect of the United States, Donald Trump, will likely nominate Paul Atkins, a former SEC commissioner with pro-crypto views, as the new SEC chief. Experts believe this change may result in more people understanding and using cryptocurrency-based financial derivatives such as ETFs.
Although the SEC has not given the green light to a spot XRP ETF yet, there is still hope in the market. Bitwise, 21Shares and WisdomTree have all submitted applications for spot XRP ETFs in the last few months which demonstrate the growing interest in regulated investment products that provide exposure to XRP. Polymarket gives 70% odds of the XRP ETF approval in 2025, which indicates increasing belief in the regulatory certainty.
