XRP (XRP) ETF Launch Date Scheduled for April 30, Ripple Case Appeal Paused by Court
A new significant date has been revealed for XRP holders, alongside Peter Schiff sharing his take on the “best trade you can make” during today’s changing market environment.
ProShares has set April 30 as the target date for the launch of its XRP futures ETF according to a recent filing. This move signifies that the product is ready for launch, but the exact trading start date is not guaranteed. The ETF will not invest directly in XRP tokens but instead rely on XRP futures contracts and swap agreements, mirroring ProShares’ successful strategy with Bitcoin in 2021. This initiative represents a key step towards an eventual spot-based XRP ETF, following the path of futures ETFs that laid the groundwork for Bitcoin ETFs in 2024, which were welcomed by notable figures like Anthony Scaramucci.
The U.S. Court of Appeals for the Second Circuit recently halted the appeals process in the Ripple case after a joint motion by the SEC and Ripple was granted by Judge José A. Cabranes. The SEC must provide a status update within two months, and all legal actions are suspended until the pause is lifted. This pause came after the SEC dropped its appeal following Gary Gensler’s exit as chair, and Ripple withdrew its cross-appeal after securing concessions.
Despite favorable legal outcomes for Ripple and progress on an XRP ETF, XRP’s price has dipped slightly amid a broader cryptocurrency market correction, trading at $2.08 at the time of publication. This price movement shows how market dynamics can sometimes be disconnected from regulatory and institutional developments. Investors have voiced frustration over the legal delays despite Ripple’s earlier legal victories.
The ProShares ETF introduces more institutional interest in XRP as a tradable asset, in line with the increasing integration of cryptocurrencies in traditional finance through regulated investment vehicles. The futures-based approach appeals to conservative institutional investors by letting them benefit from XRP price changes without holding the digital asset directly. These developments reflect a path toward mainstream acceptance of XRP, reducing regulatory ambiguity and fostering growth and adoption among both retail and institutional investors. The temporary legal halt offers room for pursuing out-of-court resolutions, enhancing regulatory clarity for the broader XRP ecosystem.
As the April 30 deadline for the ProShares XRP ETF launch nears, observers will be monitoring both the upcoming launch and regulatory changes impacting XRP closely.
