SEC GREENLIGHTS PROSHARES' XRP FUTURES ETFS: DETAILS…
- The U.S. Securities and Exchange Commission (SEC) has approved ProShares Trust to launch three XRP futures-based ETFs.
The three ETFs are scheduled to go live on April 30 and are structured as follows:
- Ultra XRP ETF: This fund offers 2x leverage, meaning it aims to deliver twice the daily return of XRP futures prices.
- Short XRP ETF: This fund offers inverse (-1x) exposure, allowing investors to profit if XRP’s price declines.
- Ultra Short XRP ETF: This option provides approximately twice the inverse (-2x) of XRP’s daily performance.
- These ETFs will not involve direct ownership of XRP tokens. Instead, they will track the price of XRP through futures contracts using the XRP Index.
- ProShares' approval comes shortly after Teucrium Investment Advisors launched the first XRP futures ETF on April 8, which saw a strong response from the market.
- It’s important to note that ProShares also has a pending application for a spot XRP ETF, which would involve direct ownership of XRP tokens.
- The SEC’s slow handling of spot crypto ETFs, including XRP, is not unusual. Applications for spot ETFs tied to Solana, Litecoin, and Dogecoin are also pending.
- Despite these delays, many analysts remain confident that spot crypto ETFs will eventually receive approval, especially after the recent changes in regulatory leadership and favorable court rulings involving Ripple Labs.
- The CME Group has also recently announced plans to launch XRP futures.
Image: Fortune
🇮🇳 BIG WARNING FOR CRYPTO IN INDIA! 🚨
India’s top investigators just found that #Bitcoin #TRON and #USDT are being used by terrorists, drug gangs, and cybercriminals to move money secretly.
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🇮🇳 With tensions rising between India and Pakistan, crypto is under heavy fire.
New crypto rules, higher taxes, and stricter tracking could be coming very soon.
Stay alert — big changes are on the way for #Crypto in India!
BITCOIN SET FOR A MAJOR BREAKOUT, SAYS ANALYST WILLY WOO
Bitcoin is locking in for a potential breakout, with analyst Willy Woo highlighting a surge in capital flows and growing investor confidence.
Targets like $90K and $93K have been surpassed, and now eyes are on $103K and $108K. Woo says dips are prime buy zones, and liquidity is roaring back.
With fundamentals stronger than ever, the setup for all-time highs looks better than ever.
Source: @BTCTN
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