ProShares set to launch three XRP ETFs on April 30

ProShares XRP ETF approval comes only a few days after the first XRP ETF started trading on the market. Earlier this month, on April 8, ETF issuer Teucrium became the first firm to receive U.S. SEC approval to bring their XRP ETF to the New York Stock Exchange.

At press time, XRP has gone up by 4.86% in the past 24 hours of trading. Ripples token is currently trading hands at a price of $2.28 with a market cap of more than $133 billion. In the past day, the daily trading volume for XRP has gone up by 67.9% to $4.2 billion, indicating a rise in market activity.

So far, the SEC has only granted approval for Teucrium and ProShares‘ XRP ETF applications. Last month, the financial agency decided to postpone the decision on Grayscale’s XRP ETF application, stating they need more time to review the proposal.

Institutional interest towards XRP ETFs has been growing rapidly in recent months. in large part due to the token‘s inclusion in the Trump administration’s crypto reserve. Aside from Grayscale, other asset managers like Franklin Templeton, Canary Capital, WisdomTree, Bitwise, CoinShares, and 21Shares have also applied for institutional investment products associated with XRP.