Bloomberg analyst James Seyffart has confirmed that ProShares will not launch an XRP-based exchange-traded fund (ETF) on April 30th, despite rumors circulating online. While there is no official date set yet, ProShares is expected to launch XRP futures ETFs instead. The SEC continues reviewing spot XRP ETF applications from major firms. Confusion arose when a regulatory filing miscited a launch date, leading to widespread speculation about an April 30th launch date. ProShares has denied any planned launch for that date and says they are working on launching future-based products. Nate Geraci of The ETF Store explains that these funds will not directly hold XRP but track its price through futures strategies. Teucrium’s 2x Long XRP ETF is a notable example, using swap agreements to seek double the daily return of XRP. This underscores the growing trend of futures-based instruments tied to cryptocurrencies. While there are no spot ETFs currently approved in the U.S., regulatory hurdles remain for these applications, and SEC leadership changes later this year could impact their approval timeline.