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International Business Times

Business

Marvie Basilan

ProShares To Launch $XRP ETFs This Week – They're Not Spot, But Token Price Pumps

ProShares XRP ETF SEC John Squire Crypto CoinGecko Teucrium

Gold round physical XRP coin on a person's hand (Credit: Kanchanara/Unsplash)

KEY POINTS

The SEC tacitly approved the funds over the weekend, triggering talks within the $XRP community
Spot ETFs hold real $XRP, while futures only bet on the token's price action
$XRP is up 4.7% in the day, seemingly reacting positively to the news

The U.S. Securities and Exchange Commission (SEC) has approved the public launch date of ProShares' new XRP futures exchange-traded funds (ETFs) this week, joining Teucrium after the Vermont-based asset manager launched the first XRP ETF in the U.S. market earlier this month.

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