The SEC’s approval of ProShares Trust’s XRP ETF on April 30, 2025, marks a significant step for XRP’s integration into regulated financial markets, following a wave of nine XRP ETF filings by major firms like ProShares and Bitwise as of March 12, 2025, despite earlier SEC delays.
This ETF, managed by ProShares—a leader in leveraged and inverse ETF strategies—will track XRP’s price with assets held at Coinbase Custody, potentially increasing institutional exposure and liquidity, though ProShares warns of significant investment risks in their prospectuses.
The approval reflects a broader SEC shift toward cryptocurrency legitimacy, as seen with prior Ethereum ETF approvals in 2024, moving away from “regulation by enforcement” and aligning with legislative efforts like the FIT21 Act, which aims to classify crypto assets like XRP as commodities.
