American SEC Greenlights Proshares XRP Futures ETFS for launch 30. April

The US Securities and Exchange Commission (SEC) has approved the launch of three XRP Futures-based exchanges (ETFS) Proshares Trust 30. April, a sec submission It shows. 17. January before the initial president of the CRIPTO-Friendly Donald Trump was opened, Proshares proposed the following ETFS:

• Ultra XRP ETF, which will provide 2K levers
• Short XRP ETF, which will provide an inverse (-1x) lever
• Ultra short XRP ETF, which will provide inverse (-2x) levers

This will be the second, third and fourth ETFs of KSRP in the USA 8. April, the first XRP of the future ETF Teucrium started trading on the new York Stock Exchange (NISE) and Video “great response. “

However, it is important to note that the ETF based on futures provides exposure to Ramatima price XRP futures contract. In other words, proshares’ ETFS will monitor the price of XRP through the KSRP index. This means that, in contrast to the ETF, which would require the purchase of KSRP tokens, Futures XRP ETF allows you to set bets on a CSRP price without cutting the token itself.

PROSTARAM ‘Separate App for Spot XRP ETFS is still up to date with SEC. However, while US Dirients, the first spot XRP ETF from Hashdek begin Trading in Brazil earlier this week.

However, do not discount the importance of launching these XRP futures ETFS. These products will offer a regulated way to get from the cost of KSRP prices, opens the door for institutional interest.

Impact on XRP price

The approval of the future-ETF had a positive impact on the price of the KSRP, which increased by 3.5% in the last 24 hours to $ 2.27 at the time of writing, Cryptoslat data It shows. The KSRP Market Cap now stands at over $ 312 billion.

It is interesting to note that the price of all other tokens with the largest markets except Bitcoin (which has increased by 0.11%), refused in the last 24 hours. This indicates that the CSRP price moved to the market, experienced the largest spike in price among the top 10 tokens.

Ripple’s hard connection has been improved with SEC

The launch of ETFs XRP in the US would be considered a large victory for Ripple, the company behind the XRP. Ripple was in warm water for years. However, it changed because Trump took over his candidate, Paul Atkins, became president of SEC.

Trump, who adopted a fryptological attitude for his second term, and Atkins, crypto lawyer and former Commissioner for DC, took a wide different approach from its predecessors. Speaking at the round table, which was held on Friday, the CRIPTO Working Group SEC, Atkins said:

“It seems that alone to the market indicates that the current framework is very necessary.”

Atkins added that the CRIPTO innovation was “suffocated for the last few years” due to the SEC access as part of the former Gare GRENTER.

In 2020. year, SEC sued Ripple, stating that he had violated securities laws by selling KSRP, which the Agency considers unregistered security.

In July 2023, Ripple secured a partial victory when the judge decided that the KSRP does not qualify as security when sold in middle markets like exchanges. However, the institutional sale of KSRP represented unregistered securities – the judge killed a fine of $ 125 million, but Selno complained about the decision.

19. Marta, director of Ripple Brad Garlinghouse announced That SEC agreed to give up appeal, subject to the voting and approval of the Commission. Garlinghouse stated that the end was “finished. It’s over,” calling the moment “Historical Win”.

10. April, Ripple and Sex Common submit Proposal for pausing the procedure for the discussion of the settlement.

The Resolution of the Ripple SEC lawsuit will have wider implications in the crypto market because it would set a precedent to prove that the tokens are traded on the stock exchange are not necessarily securities.

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