This week there was a lot of talk online about Prosher, which will launch the XRP ETF on April 30th. Several social media posts and reports have been approved by the Securities and Exchange Commission (SEC) and claim it will be published this week.
But that’s not true.
A ProShares spokesman has cleared up the confusion. They said:
“Proshares is not scheduled to launch the ETF on Wednesday, April 30th. There is no further news at this time.”
So where did the rumor come from?
The misconception appears to have begun because it disrupted the “effective date” listed in the regulator’s submission with the official launch date. If the fund’s registration becomes “effective”, it means you have completed one step in the SEC, but that does not guarantee that it will be released that day.
In fact, the SEC may continue to oppose the launch. The effectiveness of the fund’s registration statement is only part of the process. It is required before starting, but does not confirm the exact timing or warranty approval.
The news isn’t true, but the story of XRP futures ETFs remains important. It shows that XRP is attracting attention from major financial players. And, like Bitcoin and Ethereum, futures ETFs could be a step towards a full-spot ETF of the future.