The U.S. Securities and Exchange Commission (SEC) has approved three XRP (CRYPTO: $XRP) %Cryptocurrency exchange-traded funds (ETFs) to be issued by ProShares.
Privately held ProShares, which focuses exclusively on ETFs, says it plans to introduce three XRP-tracked products in the coming week after receiving regulatory approval.
The company will launch an Ultra XRP ETF (two times leverage), a Short XRP ETF, and an Ultra Short XRP ETF (negative two times leverage).
However, the SEC has yet to approve applications from ProShares, and others, to launch a spot XRP ETF.
Fund manager Grayscale’s filing for a spot XRP ETF that would track the price movements of the cryptocurrency faces a May 22 deadline for the SEC to render a decision.
Earlier in April, the CME Group added XRP futures to its largest derivatives exchange in the U.S. for launch in May of this year alongside %Bitcoin (CRYPTO: $BTC) and %Ethereum (CRYPTO: $ETH) products.
The flurry of interest in ETFs tracking XRP comes after closely related company Ripple’s long-standing court battle with the SEC ended in March of this year.
XRP is currently trading at $2.33 U.S. per digital token, having gained 10% so far this year.
