ProShares has set an April 30th target date for launching a new XRP futures-based Exchange Traded Fund (ETF), according to its latest regulatory filing. This update suggests the product is nearing readiness, although there’s no official confirmation that trading will begin on this specific date. 🗓️ The ETF will not directly hold XRP but rely on futures contracts and swap agreements linked to the asset. This method allows financial institutions to access XRP price fluctuations through ownership agreements while avoiding owning actual XRP tokens. 🚀 The firm started its product application process in January and steadily advanced towards launch, following a path familiar with success, having been the first company to launch a Bitcoin futures ETF in 2021 after attracting significant market interest and substantial initial fund inflow. 💪 ProShares’s success paved the way for the eventual approval of spot-based crypto ETFs, which experts predict will see XRP progress soon from futures to spot products after observing a similar timeline for Bitcoin’s journey. 📈 The growing demand for a spot XRP ETF has intensified as various asset managers, including Franklin Templeton, have filed requests with the SEC. 📃 Nate Geraci, a prominent expert, believes there is now a higher likelihood of an SEC approval for a spot XRP ETF and anticipates a quicker decision than before. He’s optimistic that this move marks a significant step towards increased regulatory clarity regarding XRP products. 🙌