ProShares to Launch XRP Futures ETF in April 2025
Key Takeaways
- ProShares plans to launch an XRP Futures ETF in the U.S. by the end of April.
- Ten applications for a Spot XRP ETF have already been filed with the U.S. Securities and Exchange Commission (SEC) — more than for Solana or Litecoin.
- Analysts see strong chances for the imminent approval of a Spot XRP ETF.
- According to experts, market depth and liquidity are in XRP’s favour.
- Whale activity remains subdued at the moment — which could put short-term pressure on the XRP price.
Why XRP Currently Has a Strong Chance at an ETF
XRP, the cryptocurrency of the Ripple network, is currently drawing attention from institutional investors. The reason: the prospect of an exchange-traded fund (ETF) that invests directly in XRP — a so-called spot ETF. While Bitcoin (BTC) and Ethereum (ETH) already have such products, XRP could be the next candidate.
A major step in this direction is the planned launch of an XRP Futures ETF by ProShares. According to recent filings with the U.S. Securities and Exchange Commission (SEC), this product is scheduled to go live on April 30, 2025. In addition to the existing product from Teucrium, this would bring the number of XRP Futures ETFs in the U.S. to two.
Futures ETFs as a Gateway to Spot Products
The approval of futures ETFs is often seen as a precursor to spot ETFs. This was the case for both Bitcoin and Ethereum: first, futures products were approved, followed later by spot ETFs. XRP may follow the same pattern.
According to Nate Geraci of ETF Store, the market is already ready: “A 2x leveraged XRP ETF is already trading. It’s hard to imagine the SEC not approving a spot ETF — and sooner rather than later.”
Market Depth Favouring XRP
Crypto analytics firm Kaiko highlights two factors that give XRP an edge over other altcoins like Solana (SOL) or Cardano (ADA):
- Market Liquidity: XRP shows high average market depth. The 1% market depth — the volume that can be traded within a 1% price deviation — is greater for XRP than for SOL and twice as high as for ADA.
- Issuer Interest: Ten different providers have already filed applications for a Spot XRP ETF. For comparison: Solana has only five applications.
Kaiko also notes that the SEC, under its current leadership, has placed particular emphasis on liquidity. If this approach continues, XRP could be given preferential treatment when it comes to spot ETF approval.
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Market Sentiment: Whale Activity Remains Cautious
Despite the positive outlook, the activity of large investors — so-called whales — remains subdued. Since February, there has been a decline in whale positions. Historically, price surges in XRP have often coincided with increased whale engagement.
Currently, the XRP price fluctuates between $2.00 and $2.20 USD. From a technical perspective, support lies at the 200-day moving average (200DMA), while the 50-day moving average (50EMA) acts as short-term resistance. If demand remains weak, a drop below the $2 mark is possible.
Our Assessment
The conditions for a Spot XRP ETF are more favourable than ever. The combination of high liquidity, strong issuer interest, and groundwork laid by futures products creates a solid foundation. If the SEC maintains its current approach, approval in 2025 is a realistic scenario.
In the short term, however, the XRP price could remain under pressure as long as large investors remain cautious. For long-term investors, a spot ETF could be a key catalyst — both for market adoption and for the price.
Sources
- Kaiko
- ETF Store
- ProShares
- Teucrium
- Polymarket
- TradingView
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