XRP ETF Wave Begins: ProShares Leads the Charge, BlackRock Still Silent

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XRP is no longer waiting for a green light, it’s pushing ahead. Multiple major asset managers, including ProShares and Bitwise, have now filed to launch XRP ETF, signaling a wave of institutional interest in the cryptocurrency.

The most talked-about filing is from ProShares, which applied for a futures-based “Short XRP ETF,” aiming for a launch as early as April 30, 2025. This would allow investors to gain exposure to XRP through regular brokerage accounts, without buying or holding the asset directly.

Kaiko research says XRP leads all altcoins with 10 active ETF filings, more than Solana, Litecoin, or Dogecoin. It also has the strongest liquidity, meaning there’s a lot of buy and sell activity near its market price. This kind of depth is a key factor the SEC looks at when considering ETF approvals.

Is XRP the Next Big ETF Bet?

Crypto analyst John Squire expressed his excitement after a big development around XRP. Shortly after he shared his thoughts about a possible settlement in the Ripple and SEC case unlocking a major move for XRP, ProShares submitted an official filing to launch an XRP ETF.

The target date for this ETF is April 30, 2025. Squire believes this moment signals real momentum, not just speculation. According to him, XRP is no longer sitting on the sidelines waiting for approval. Instead, it is stepping confidently into the spotlight and moving toward broader market recognition.

He further highlights that the SEC now holds the key to what happens next. Under the new leadership SEC’s actions will likely shape how far and fast XRP can grow from here.

More Players Join the XRP ETF Race

Moreover, the ProShares application is part of a larger trend. Other companies like Bitwise, 21 Shares, and CoinShares have also stepped in, looking to offer XRP-based products. These filings reflect rising demand from investors who want exposure to XRP in a regulated and more accessible way. If these ETFs are approved, it could significantly boost XRP’s visibility and credibility within traditional finance circles.

The SEC Factor and BlackRock’s Silence

One reason for the growing optimism is the shift in the SEC’s leadership. There’s speculation that the agency might drop its appeal in the ongoing Ripple case, which could open the door for a spot XRP ETF. A move like that would be a massive milestone. However, one major player is still missing from the list is BlackRock. Known for its influence in the ETF world, BlackRock’s entry could reshape the entire XRP ETF landscape if it chooses to get involved.

For now, XRP’s path to mainstream adoption seems to be gaining traction faster than ever. With strong filings, shifting regulations, and analysts calling attention to the trend, the stage is being set for XRP to finally shine in traditional finance.