Early July is poised to be a significant period for the XRP community, with several applications for XRP-based exchange-traded funds (ETFs) awaiting SEC decisions. Key dates are set for mid-month.
Expectations for ProShares ETFs
Analyst Nick, known in the crypto space as Crypto Crusader, believes that July 14 is the expected launch day for three ProShares ETFs. These ETFs are the Ultra XRP ETF, the UltraShort, and Short XRP ETF, providing leveraged and inverse exposure to XRP futures. ProShares originally planned to launch in April but revised their timeline after a June 24 filing.
SEC's Evolving Approach to ETFs
Coin World reports that the SEC is preparing to approve multiple spot cryptocurrency ETFs, signaling a shift in its regulatory approach. The agency aims to work directly with issuers to simplify the listing process and improve clarity on ETF requirements. This development comes amid growing pressure from exchanges and market participants for quicker approvals.
Impact of Deadlines on the XRP Market
With several XRP ETF deadlines in July and ongoing ETF reforms, XRP's financial positioning could soon evolve. Applications for XRP spot ETFs are still under consideration, with decisions expected by mid-October. The REX-Osprey XRP ETF, on the other hand, is nearing its deadline of July 25 and may start trading this month, pending no objections from the SEC.
The July period could potentially be a turning point for XRP, given the designated deadlines and the SEC's changing approach to cryptocurrency ETF regulation.
