Proshares XRP ETF Potential Launch Date Revealed, Here’s When

ProShares has announced May 14 as the new target date for launching its futures-based XRP exchange-traded fund (ETF), as per a recent post-effective amendment. This comes after speculation and misleading reports previously suggested an April 30 launch, which was later denied.

ProShares Sets Date for XRP ETF Launch

According to updated filings with the U.S. Securities and Exchange Commission (SEC), ProShares is now aiming to launch its futures-based XRP ETFs on May 14. The document is a procedural update and does not confirm final SEC approval.

The earlier filing led to confusion across financial media and social networks. Some sources incorrectly reported that the SEC had allowed the ETF to begin trading on April 30.

This led to a short-lived price jump for XRP. However, it was later clarified that no such approval had been granted.

SEC Review Still Ongoing for Spot ETFs

In addition to the futures-based ETF, ProShares has submitted a filing for an actual XRP ETF. Franklin Templeton, Bitwise and Grayscale are among other companies that have applied for such funds as well.

Out of all the applications submitted, Franklin Templeton’s application can be regarded as one of the most popular. On April 29, the SEC extended its decision on Franklin Templeton’s proposal until June 17. The firm registered the XRP ETF in March after registering a similar request for the Solana ETF.

Eleanor Terrett, a journalist following ETF developments, wrote on social media that,

“For the $XRP spot ETF, James [Seyffart] is eyeing mid-October, around the 18th, as a final decision deadline.”

Broader Interest from Major Asset Managers

Other large asset managers like BlackRock and Fidelity have not sought XRP ETFs yet. However, they are rumored to come to the party later in the year 2025 if the market demands for the competition.

While ProShares and Franklin Templeton have received most of the attention, the US SEC has also granted extension on other ETF filings. They include Bitwise’s proposed launch of Dogecoin ETF and Fidelity’s attempt to introduce staking into its Ethereum spot ETF.

The SEC is required to issue a final decision on ETF proposals within 240 days from the time they are officially published in the Federal Register. Consequently, Bloomberg has reported that several cryptocurrency-related ETF decisions may be finalized in the fourth quarter of the year.

Regulatory Environment and SEC Leadership

The recent changes in SEC leadership may affect how quickly the agency acts on crypto ETF applications. Earlier this month, Paul Atkins officially became the US SEC Chair. Atkins is known for his pro-crypto stance and was confirmed with support in the Senate.

Under previous leadership, including former Acting Chair Mark Uyeda, the SEC took a cautious approach to crypto ETFs. The agency extended review deadlines for multiple applications.

Despite delays, the current regulatory framework suggests that several key decisions on XRP and other crypto ETFs will likely come by October. Until then, futures-based products like those proposed by ProShares may enter the market earlier.