The post No XRP ETF April 30 Says Bloomberg Analyst appeared on BitcoinEthereumNews.com.

Confusion spread across the crypto community after rumors suggested that ProShares would launch XRP ETFs on April 30. However, Bloomberg ETF analyst James Seyffart confirmed that there is no official launch date yet. The false reports were based on an old regulatory filing, leading to widespread misinformation online. ProShares Clarifies XRP ETF Launch Plans According to Bloomberg ETF analyst James Seyffar reports on ProShares would launch XRP ETFs on about an April 30 launch were inaccurate. He added that, although no official date is set, a launch is expected in the short to medium term. Concurrently, a spokesperson for ProShares also commented, saying, “ProShares does not have any ETF launches scheduled for Wednesday, April 30. We have no further news to share at this time.” This statement further confirmed that there are no immediate plans to introduce the ETFs this week. The rumors originated from a regulatory filing dated April 15, which some media outlets misrepresented as a new development. These errors led to incorrect reporting and social media sharing before verification. However, despite the clarification of the ETF launch, the XRP price has remained bullish with the price trading at $2.29, a 0.59% surge from the intra-day low. During the rally, the 24-hour market capitalization and trading volume surged by 1% and 28% respectively to $133.9B and $4.53B. Futures-Based XRP ETFs Expected, Not Spot Products Nate Geraci, President of The ETF Store, had earlier discussed the nature of the upcoming ProShares XRP ETFs. He explained that the new products are not spot ETFs and will not hold XRP directly. Instead, the planned ETFs will offer exposure to XRP through futures contracts. According to Geraci, the ETFs will include leveraged and inverse options, giving investors different ways to gain exposure to XRP price movements. He also mentioned that Teucrium launched…

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Filed under: News - @ April 29, 2025 1:27 am