ProShares files for features, leveraged, and inverse XRP ETFs

Bitcoin spot ETF issuer ProShares has submitted filings with the US Securities and Exchange Commission (SEC) for a series of new XRP exchange-traded fund (ETF) products. As reported by ETF Store President Nate Geraci, the proposed ETFs include leveraged, inverse, and futures options.

According to the January 17 filing, ProShares is seeking approval for investment products under the tickers Short XRP ETF, Ultra XRP ETF, and UltraShort XRP ETF. 

The submissions come just days before SEC Chair Gary Gensler’s departure from office on January 20. Industry stakeholders believe new chair Paul Atkins, supported by Donald Trump’s pro-crypto policies, will approve more ETFs.

Companies to explore new XRP, SOL investment options  

Earlier today, Nate Geraci posted on his X account that several entities have filed for crypto ETFs in the last 48 hours, including VanEck, Canary, CoinShares, Oasis, and ProShares. While most of the companies submitted one request each, the latter applied for four investment vehicles, three of which are tied to Ripple’s XRP.

A futures XRP ETF will allow investors to speculate on the coin’s price movements without owning the cryptocurrency directly, while leveraged ETFs will amplify XRP’s daily returns, potentially doubling or tripling their gains. Inverse ETFs will offer investors opportunities to profit from XRP’s price declines, via derivatives trading.

Geraci also revealed that ProShares has applied for Solana futures ETFs. ETF analyst James Seyffart questioned the feasibility of the filing, pointing out that Coinbase had limited liquidity on its SOL futures market.

“It’s interesting because there aren’t CME futures yet, and I’m not sure if Coinbase SOL futures are liquid enough,” Seyffart remarked.

XRP ETF applications submitted so far

ProShares’ filings follow earlier efforts to launch XRP ETFs, dating back to the end of last year. 

In October 2024, Bitwise Asset Management submitted a Form S-1 to the SEC for a spot XRP ETF. This was then followed by 21Shares in November, which proposed its Core XRP Trust, and another from WisdomTree in December. However, financial regulators have yet to greenlight any of the applications. 

The applications arrive during a period of heightened positivity within the crypto industry fueled by Gary Gensler’s resignation from the SEC. 

Gensler wasn’t even out of the building for 5 minutes and the ETF industry unloaded a massive crypto filing frenzy. Half a dozen so far. https://t.co/YyNik32CWp

— Eric Balchunas (@EricBalchunas) January 17, 2025

If approved by the US Senate, industry experts predict that incoming SEC chair Paul Atkins’ leadership could create a more favorable regulatory environment, potentially expediting the approval process for cryptocurrency ETFs. 

XRP shows signals of upward momentum 

XRP’s price has been setting up a bullish trend in the past few days, fueled by rumors that the US is considering adding the coin to its reserves. 

Since the beginning of December 2024, XRP has been consolidating between the $2-$2.5 levels, but market activity this week pushed its price beyond the $3 mark. The cryptocurrency recorded a 30.78% rise over the past week, a 28.28% gain over the past month, and an impressive 446.24% increase over the past year, per Coingecko data.

On the daily trading chart, XRP has exhibited a consolidation phase around the $3.10 level, with subdued trading volumes that have gone down by almost 45% in the last 24 hours. Analysts note potential retracements to support zones at $2.8 and $3, which could present buying opportunities for traders.

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