According to an April 28 statement By Bloomberg Etf James Seyffart analyst.
Although the Securities and Exchange Commission (SEC) of the United States has approved the ETF, Seyffart said that the products have not yet a confirmed launch date, but should start to negotiate in the short and medium term.
The FNB Proshares XRP Futures serve institutional investors looking for a regulated means of speculating on the volatility of XRP prices.
FNB -based FNBs offer another investment vehicle that eliminates the need for direct custody of digital assets, meeting regulatory, security and operational concerns often associated with the detention directly of digital assets.
Authorization to launch secure XRP term contracts
Proshares obtained the approval of the dry to launch three ETFs based on the XRP term contracts: the ultra XRP ETF offering a 2x lever effect, the short ETF offering -1x inverse exposure and the ultra short ETF offering -2x inverse exposure.
According to the SEC files, the regulator finalized approval earlier this year, during a period of increase in the momentum of financial products linked to the crypto.
These FNB Proshares will become the second, third and fourth ETF linked to XRP approved in the United States. The first XRP ETF, managed by Teucrium, began to negotiate on the New York Stock Exchange (NYSE) on April 8 and reported positive initial negotiation volumes.
Proshares also has an application pending for an ETF XRP spot with the dry, as well as seven other similar applications. Most deposits have a second deadline fixed for the end of May, because their first deadline in April is adopted without the decision of the dry.
In addition, certain deposits have a final deadline for mid-October, such as the requirement of conversion by the gray scale and the 21Shares proposal.
A January prediction By JPMorgan estimates that XRP exchange (FT) can reach between $ 4 billion and $ 8 billion in net entries, based on the history of ETFs exposed to Bitcoin (BTC) and Ethereum (ETH).
