ProShares announced the launch of three new XRP futures-based ETFs, set for April 30, 2025, after the U.S. Securities and Exchange Commission (SEC) did not raise objections during the review process. The lineup will include the Ultra XRP ETF with 2x leverage, the Short XRP ETF, and the Ultra Short XRP ETF with -2x leverage.

The funds will track the price movements of Ripple’s XRP token but will not hold the asset directly. Their launch follows the recent debut of the first XRP-focused ETF in the U.S. by Teucrium Investment Advisors, also based on futures contracts.

Bloomberg analyst Eric Balchunas pointed out the unusual situation where the first ETFs for a new asset are leveraged products, given that spot XRP ETFs have not yet been approved.

ProShares received the green light after submitting applications in January and completing the SEC review without objections. At the same time, CME Group announced it would start offering XRP futures trading on its U.S. derivatives exchange.

These products will allow investors to gain both direct and inverse exposure to XRP’s price movements through regulated instruments, expanding ProShares’ cryptocurrency investment lineup in the U.S. XRP’s price at the time of publication was around $2.23, up approximately 1.1% over the past 24 hours amid anticipation of the funds’ launch.