XRP ETF Rumors Clarified: No ProShares Launch Set for April 30

Speculation spread rapidly across the crypto space as rumors suggested ProShares was preparing to launch an XRP Exchange-Traded Fund (ETF) on April 30. However, Bloomberg ETF analyst James Seyffart stepped in to clear the air, confirming that no official launch date has been set.

What Sparked the Confusion?

The speculation originated from a regulatory filing submitted by ProShares on April 15. Multiple media outlets misinterpreted the filing, mistakenly reporting that an XRP ETF was scheduled for release at the end of the month.

A spokesperson from ProShares has since addressed the misunderstanding, clarifying that the firm has no ETF products lined up for an April 30 release. The representative emphasized that there are no current updates regarding any XRP ETF offerings.

XRP ETFs Likely to Be Futures-Based

As interest in a potential ProShares XRP ETF surged, it became evident that any future offerings would most likely be based on futures contracts, not spot assets. Nate Geraci, President of The ETF Store, confirmed this, stating that ProShares is considering futures-based ETFs, which are typically easier to launch due to lighter regulatory constraints. These products offer exposure to XRP price movements without requiring investors to directly hold the cryptocurrency.

Geraci also mentioned the possibility of leveraged and inverse ETF options, which would allow traders to benefit from both bullish and bearish XRP trends. One example is Teucrium’s recent release of the 2x Long XRP ETF (XXRP), designed to amplify daily XRP returns using swap agreements.

Despite growing interest in XRP ETFs, regulatory challenges still hinder the approval of spot XRP funds. Firms such as Grayscale, Bitwise, Franklin Templeton, WisdomTree, and 21Shares are actively pursuing approval for their spot ETF proposals, but Bloomberg’s Seyffart notes that decisions are unlikely before October 2025.

Market Sentiment and ETF Approval Odds

According to data from Polymarket, the probability of an XRP spot ETF being approved in the U.S. by December 2025 stands at 78%, a significant jump from 68% just days earlier. However, it's still shy of the 87% peak recorded on March 23.

Ripple’s Global ETF Strategy Gains Ground

While U.S. regulators continue to delay progress, Ripple is making strides internationally. On April 25, Brazilian investment firm Hashdex began trading the world’s first spot XRP ETF under the ticker XRPH11 on Brazil’s B3 stock exchange. Managed by Genial Investimentos, this fund allocates at least 95% of its total assets to XRP and mirrors the Nasdaq XRP Reference Price Index.

This marks the ninth single-asset crypto ETF from Hashdex, which already offers products focused on Bitcoin, Ethereum, and Solana. According to Samir Kerbage, CIO of Hashdex, the new XRP fund targets institutional investors seeking exposure to crypto assets within Brazil's regulated financial ecosystem.  

Ripple vs SEC: Legal Battles Still Ongoing

One of the major hurdles in the U.S. for a spot XRP ETF is the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). A recent court document filed on April 10, a motion to stay, may hint at possible settlement discussions.

Legal analysts suggest that the outcome of the SEC's appeal regarding Judge Torres’s ruling on programmatic XRP sales could significantly influence the approval process for spot XRP ETFs. Moreover, Paul Atkins, the newly appointed SEC Chair, is expected to play a pivotal role in shaping future crypto ETF policies.

XRP Price Update

Despite swirling rumors and legal tensions, XRP remains strong. At the time of writing, the token is trading at $2.29, reflecting a 0.59% increase from its daily low. Additionally, XRP’s market capitalization has climbed to $133.5 billion, while its 24-hour trading volume surged by 28%, reaching $3.25 billion.

While the crypto world eagerly awaits the launch of an XRP ETF in the U.S., regulatory barriers and legal disputes continue to delay progress. Still, the global market, especially Brazil, is paving the way for real-world adoption of spot XRP ETFs. Investors should remain cautious but optimistic as the XRP ETF narrative unfolds.