SEC Greenlights ProShares XRP Futures ETFs – Trading Goes Live April 30
Wall Street’s latest crypto gambit gets the rubber stamp. ProShares’ XRP futures ETFs will hit the market April 30—just in time for the quarterly ’innovation theater’ where finance giants pretend they understood blockchain all along.
No spot exposure here—just leveraged bets on a coin that still gives regulators hives. Because nothing screams ’mature asset class’ like derivatives on an asset fighting existential lawsuits.
Watch the volumes: if this flops harder than a 2021 NFT project, even the ETF hype machine might need a reboot.
XRP Futures ETFs Approval Signals New Era for Ripple
The SEC’s approval of XRP futures ETFs marks a significant victory for Ripple Labs Inc., the company behind XRP, following a prolonged and contentious relationship with the agency. This shift in the SEC’s stance comes after Paul Atkins assumed the role of SEC chairman, signaling a change in the regulatory approach toward the cryptocurrency industry.
In March, Ripple and the SEC reached a resolution, ending their lengthy legal dispute. The SEC decided to drop its appeal in the ongoing case against Ripple, marking a significant shift in the legal battle.
The dispute originated in December 2020 when the SEC filed charges against Ripple, alleging that the company raised $1.3 billion through unregistered sales of its digital asset, XRP. In late March, Ripple reached a settlement with the SEC, agreeing to pay a $50 million fine and withdraw its cross-appeal.
The approval of the XRP futures ETFs, coupled with the resolution of Ripple’s legal battle with the SEC, signals a pivotal moment for both the company and the broader cryptocurrency market.
As institutional investors gain greater access to XRP-related financial products, the market’s regulatory landscape continues to evolve. With more clarity on regulatory matters, the future of digital assets like XRP looks poised for further innovation, potentially opening new doors for crypto integration into traditional financial systems.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
