The rumors that Proshares would be released by the XRP ETFs on April 30 led to confusion because of the lack of an official launch date. It was stated that the wrong information spread on the basis of an old regulatory documents. This led to misunderstanding of the information contained in social media and news sources.
Futures XRP ETF launch
Bloomberg ETF analyst James Seyffart emphasized the allegations about the launch of the product and said that an official date has not been determined. The market has been reported to have expectations for the new ETF launch in the short and medium term.
James Seyffart: “A official launch date has not been determined for the time being.”
Proshares officials also made a statement about the rumors and said that no ETF launch was planned for April 30. The information received from the company officials points out that there is no clear plan for the product launch.
Proshares official: “Currently, no ETF launch is planned during the week.”
On the other hand, new products do not have direct XRP, but will be organized in a way that provides access to investors through futures contracts. The products aim to bring an alternative approach to market conditions by offering different leveraged and reverse options.
The ETF Store President Nate Gerraci stressed that future ETFs will be based on futures contracts instead of spot products.
Spot XRP ETF
The basis of the incident was found to be information based on misinterpretation of a regulatory documents dated April 15th. This information, which spreads without being approved on various media organs and social platforms, caused misunderstanding. It is also known that SEC has not yet approved spot -based ETF applications.
While evaluating ETF applications based on futures contracts, the SEC makes more detailed risk examinations for spot products. It is foreseen that the US SEC President may play an important role in the evaluation of ETF applications in the future.
Speculation in the market once again demonstrates the necessity of investors to follow official statements. While the information received pointed out the importance of taking into account the regulatory process and product characteristics, it is stated that current and confirmed resources should be followed for the right decisions.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
