U.S. Securities and Exchange Commission (SEC) has approved ProShares Trust to launch three XRP futures-based exchange-traded funds (ETFs) on April 30, 2025. These ETFs include the Ultra XRP ETF (2x leverage), the Short XRP ETF (-1x leverage), and the Ultra Short XRP ETF (-2x leverage). Unlike spot ETFs, these funds track XRP’s price movements through futures contracts, not direct ownership of the cryptocurrency.
They will be the second, third, and fourth XRP-tracking ETFs in the U.S., following Teucrium’s 2x Long Daily XRP ETF launched earlier in April 2025. ProShares’ separate application for a spot XRP ETF remains pending, alongside similar proposals from Grayscale, 21Shares, and Bitwise.
These ETFs (Ultra XRP ETF, Short XRP ETF, and Ultra Short XRP ETF) provide investors with leveraged and inverse exposure to XRP’s price movements without directly holding the cryptocurrency. This broadens access for institutional and retail investors who prefer regulated investment vehicles over crypto exchanges.
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The introduction of 2x leveraged and inverse ETFs could amplify XRP price swings. Leveraged ETFs are designed for short-term trading, attracting speculators and potentially increasing volatility, especially in a market already sensitive to regulatory and legal developments. The approval reinforces the SEC’s willingness to greenlight futures-based crypto ETFs, which it views as less risky than spot ETFs due to their regulation under the Investment Company Act of 1940. However, the pending status of ProShares’ spot XRP ETF suggests continued regulatory caution regarding direct crypto exposure.
The launch of these ETFs further validates XRP as a mainstream financial asset, especially after Ripple’s legal battles with the SEC. It could boost investor confidence and drive demand, potentially supporting XRP’s price and Ripple’s cross-border payment solutions. With Teucrium’s 2x Long Daily XRP ETF already trading, ProShares’ offerings intensify competition among ETF providers. The variety of leveraged and inverse options may spur innovation in crypto-linked financial products, though it also raises concerns about investor education given the complexity and risks of these instruments.
The Short XRP ETF and Ultra Short XRP ETF enable easier betting against XRP’s price, which could introduce downward pressure, particularly during market downturns or negative news cycles. While the ETFs don’t directly impact Ripple’s SEC lawsuit, their approval may signal a softening regulatory stance, potentially influencing future rulings or settlements. A favorable resolution could further propel XRP’s market position.
Investors should note the high-risk nature of leveraged and inverse ETFs, which are prone to significant losses in volatile markets. The broader crypto market may also watch closely for any spillover effects on other altcoins awaiting ETF approvals.
Ripple has built an extensive network of partnerships with financial institutions, banks, payment providers, and governments across 55+ countries to enhance cross-border payments and blockchain adoption. These collaborations leverage Ripple’s technology, including RippleNet, the XRP Ledger (XRPL), and its native cryptocurrency XRP, to enable faster, cheaper, and more transparent transactions.
Santander: Uses RippleNet with American Express to power real-time, trackable cross-border payments for businesses between the U.S. and U.K., streamlining transactions and reducing costs. Bank of America explores blockchain-based settlements with Ripple to enhance interbank payment efficiency, signaling institutional trust in Ripple’s tech.
Kotak Mahindra Bank and IndusInd Bank (India) adopt Ripple’s solutions to reduce costs and improve speed for international transfers, tapping into India’s massive remittance market. National Bank of Fujairah (UAE) partners with Ripple to connect with India’s IndusInd Bank for faster, cost-efficient remittances.
DZ Bank (Germany) integrates Ripple’s custody solutions via Metaco (acquired by Ripple in 2023) to offer secure digital asset services. SBI Holdings (Japan) is a long-standing partner, SBI uses Ripple’s tech for cross-border payments and has launched MoneyTap, a Ripple-powered app for domestic transfers. SBI also supports XRP on its exchange.
MoneyGram: Utilizes XRP via Ripple’s On-Demand Liquidity (ODL) for faster, cheaper global transfers, significantly reducing operational costs. Tranglo (Asia) is a major cross-border payment hub, Tranglo uses Ripple’s tech to facilitate rapid fund transfers across Asia, enhancing liquidity.
Onafriq (Africa): Partners with Ripple to open payment corridors between Africa and global markets, boosting crypto-powered remittances. Clear Junction (UK/EU) facilitates instant GBP and EUR payouts for Ripple’s customers, with plans to add more currencies, strengthening European payment infrastructure. Bitso (Latin America) uses Ripple’s ODL to improve remittance flows, making transfers faster and more cost-effective.
Ripple collaborates with 10 governments to develop Central Bank Digital Currencies (CBDCs) using its blockchain tech. Notable partnerships include: Royal Monetary Authority of Bhutan: Leverages Ripple’s CBDC platform to promote financial inclusion and digital transactions.
Saudi Central Bank (SAMA): Tests Ripple’s tech for modernizing remittances. Bank of Thailand: Assesses Ripple’s Distributed Ledger Technology (DLT) for cross-border settlements. National Bank of Georgia: Pilots the Digital Lari to enhance payment efficiency and inclusivity. Banco de la República (Colombia): Explores blockchain for high-value payment systems. These partnerships position Ripple as a leader in CBDC development, aligning with global trends toward digital currencies.
Ripple’s USD-backed stablecoin, RLUSD, is supported by major exchanges like Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish, ensuring global liquidity and compliance. RLUSD integrates with XRP for cross-border payments, enhancing transaction efficiency.
Ondo Finance: Partners with Ripple to bring tokenized U.S. Treasuries (OUSG) to the XRPL, backed by BlackRock’s BUIDL fund, enabling 24/7 minting and redemption with RLUSD. This strengthens XRPL’s role in institutional tokenization.
Airwallex (Australia): Uses Ripple’s tech for efficient global money transfers, serving businesses with high-speed transactions. LianLian (China): Facilitates rapid cross-border remittances, reducing delays and fees. World Economic Forum recognizes Ripple as a blockchain innovator, endorsing its potential to revolutionize finance.
Partnerships with major banks like Santander, Bank of America, and DZ Bank validate XRP’s utility, encouraging institutional investors to engage with XRP futures on CME’s regulated platform. This aligns with the 141% surge in CME’s crypto futures trading volume in Q1 2025. Ripple’s ODL system, used by partners like MoneyGram and Bitso, relies on XRP as a bridge currency, increasing its real-world demand. Futures will provide a hedging mechanism for these partners, enhancing market stability and liquidity.
The futures launch, coupled with Ripple’s extensive banking network, strengthens the case for an XRP spot ETF. Partnerships with regulated entities like BlackRock-backed Ondo Finance signal growing traditional finance integration, a key SEC requirement for ETF approval. Ripple’s presence in 55+ countries, covering 90% of global FX volume, ensures XRP’s relevance in diverse markets. Futures will enable traders worldwide, including retail investors via Robinhood, to capitalize on XRP’s growth in these regions.
Collaborations with central banks and compliance-focused partners (e.g., RLUSD’s New York Trust Company Charter) mitigate regulatory risks, making XRP futures more appealing to cautious investors. The partnerships drive XRP adoption, potentially pushing its price toward analyst targets of $3+ by mid-2025. Futures trading could amplify this momentum, especially if ETF approval follows.
Ripple’s partnerships with global banks, payment providers, and central banks underscore XRP’s growing role in cross-border payments and blockchain innovation. These collaborations enhance the significance of CME’s XRP futures and ProShares XRP ETF launch by driving institutional trust, liquidity, and potential ETF prospects. With over 200 partners across 55+ countries, Ripple’s ecosystem positions XRP as a cornerstone of modern finance, likely amplifying the futures’ impact on price, adoption, and market stability.