Bloomberg Dashes XRP ETF Speculation
Catch Up on Google News with U.TODAY: ProShares ETF Launch Delayed
Contrary to blooming rumors, ProShares' futures-based exchange-traded funds (ETFs) won't be gracing the market on Apr. 30, as per Bloomberg's recent update.
Earlier Sunday, a flurry of cryptocurrency outlets announced that the U.S. Securities and Exchange Commission (SEC) had signed off on these ETFs. Their enthusiasm was sparked by a regulatory filing from Apr. 15, which they took as a new development. However, this filing wasn't as groundbreaking as they thought – it was merely a procedural update.
Unfortunately, this misinformation spread like wildfire, owing to the absence of official confirmation from ProShares. Countless social media accounts jumped on the bandwagon, sharing this misinformation without a second thought.
Initially, ProShares marked Apr. 30 as the launch date for their ETFs back in early April. Yet, it was never a guarantee that the ETFs would debut on this particular day.
As reported by U.TODAY, ProShares aimed for an April 30 launch, but the date was never set in stone. Consequently, Bloomberg confirms that there's no official launch date as of today, but the ETFs are expected to debut in the near or medium term.
Earlier this week, a leveraged Bitcoin ETF from Teucrium successfully hit the market, proving to be quite popular despite its niche nature. Teucrium CEO Sal Gilbertie regarded the debut as a "terrific" and "overwhelming" success[4].
Notably, several spot XRP ETF applications are currently pending from the likes of ProShares, Grayscale, Bitwise, Canary Capital, 21Shares, WisdomTree, CoinShares, Franklin Templeton, and more. SEC Chair Paul Atkins will be weighing in on these applications later this year[6].
Stay tuned for more updates on XRP, ETFs, and Ripple news.
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Sources:[1][2][3] Cryptocurrency outlets reporting on the greenlight for ProShares ETFs based on Apr. 15 regulatory filing.[4] "Teucrium Bitcoin ETF's Launch a Huge Success, Says CEO" – U.TODAY, April 20, 2023.[5] ProShares' filing of post-effective amendment setting target date of May 14, 2023, for the launch of their ETFs.[6] Pending SEC Chair Paul Atkins' decision on XRP ETF applications from various issuers.
- The much-anticipated ProShares ETFs, despite earlier speculations, won't be launching on Apr. 30, according to recent updates from Bloomberg.
- Previously, an abundance of crypto outlets spread misinformation about the SEC's approval of these ETFs, based on a procedural update announced on Apr. 15.
- The apparent greenlight for a leveraged Bitcoin ETF from Teucrium demonstrates the growing interest in crypto investments within the financial sector.
- As of now, several spot XRP ETF applications from various issuers, including ProShares, Grayscale, and more, are awaiting approval from the SEC Chair Paul Atkins.
- Despite the delay in ProShares' ETF launch, the regulatory landscape for crypto investments, particularly ETFs, remains a significant area of focus among investors and technology companies.
