Summary:
The SEC has approved ProShares’ XRP-focused ETFs to be operational by April 30, 2025. These are the third new mutual fund offerings ProShares is making available, marking a strategic move to expand into digital assets. The funds, under a mutual fund structure, will operate in compliance with both the Securities Act and the Investment Company Act.
The company’s head office is in Bethesda, Maryland, with ProShare Advisors LLC as its investment advisor. Richard Morris, a frequently quoted figure, is under ProShare Advisors, with quotable credentials from legal counsel at Dechert LLP in New York, declined to elaborate, but it underscores ProShares’ strong track record in this market.
This launch aligns with ProShares’ broader narrative of offering regulated investment products tied to alternative cryptocurrencies, particularly XRP. The funds offer leveraged or inverse exposure to XRP price movements, enabling interested investors in the crowded digital asset space to access this alternative currency through market-based products.
No immediate licensing has been granted upon filing, influencing the choice of April 30 as the effective launch date, making ProShares a market leader in this category.
Investors are now closely monitoring the launch to capitalize on the potential of this successful expansion into the cryptocurrency space, with XRP expected to provide a robust platform for its broad-based uses.
