- ProShares has reportedly filed for an XRP Leveraged ETF, an Inverse ETF, and an XRP Futures ETF.
- The agency filed its ETF proposal on Gary Gensler’s remaining day as SEC chairman.
- Analysts anticipate extra cryptocurrency advocacy following Gensler’s resignation.
ProShares, an ETF issuing monetary companies firm, has reportedly filed for an XRP leveraged ETF and an inverse ETF, together with an XRP futures ETF. Cryptocurrency lawyer Invoice Morgan highlighted the submitting to X (previously Twitter), highlighting the timing of the submitting on Gary Gensler’s remaining day as SEC Chairman.
Notably, the current submitting by ProShares highlights the overwhelming sentiment within the crypto trade towards Gensler’s management on the SEC. Most crypto consultants imagine that the outgoing chairman performed a key function in slowing the adoption of cryptocurrencies in america over the previous few years. Throughout Gensler’s time as SEC chairman, the fee dealt with a number of enforcement actions and lawsuits towards crypto initiatives and services.
Associated: Huge corporations agree: XRP ETF might be 2025’s crypto spotlight
One of the notable regulatory battles below Gensler’s tenure was the SEC’s lawsuit towards Ripple. Protracted authorized disputes have affected XRP’s progress and hindered adoption regardless of the token’s early success. Nevertheless, current court docket developments have given XRP supporters new optimism, as Ripple secured a partial victory on this case.
The crypto market is at present centered on President Donald Trump’s inauguration, with expectations for a friendlier regulatory setting below his administration. Mr. Trump changed Mr. Gensler and promised to ascertain a framework extra supportive of cryptocurrencies.
RELATED: President Trump’s SEC Workforce Raises Probability of Spot XRP ETF Approval to 70%
This expectation has led to vital exercise within the XRP market. Analysts predict that crypto merchandise, particularly these linked to the Trump administration such because the XRP ETF, will achieve traction. The broader market additionally expects a bullish announcement early in Trump’s presidency that would set off a rally throughout main cryptocurrencies.
With President Trump’s inauguration simply days away, ProShares’ submitting may align with sentiment that the market is prepared for crypto adoption and innovation within the U.S.
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