Rumors About XRP-based ETF Debunked by Bloomberg Report
Faked News Alert: ProShares' XRP ETF Launch on Apr. 30 Not Confirmed
Contrary to recent reports, ProShares' futures-based exchange-traded funds (ETFs) are not set to launch on Apr. 30, according to Bloomberg. The misinformation stemmed from a misunderstanding of SEC filings that were incorrectly viewed as a new development.
Initially, ProShares had targeted Apr. 30 for the ETFs' launch, as reported earlier this month. However, it's crucial to note that there was never a guarantee of a specific launch date.
On Sunday, several cryptocurrency media outlets circulated false news about the ETFs' launch, sparking speculation across social media. Despite the absence of official confirmation from ProShares, the fake news persisted, demonstrating the need for diligent fact-checking in the crypto space.
Bloomberg ETF analyst James Seyffart recently clarified that there is currently no confirmed launch day for the XRP ETFs as of Monday. However, they are expected to go live in the near or medium term.
Meanwhile, other eager issuers like Grayscale, Bitwise, Canary Capital, 21Shares, WisdomTree, CoinShares, Franklin Templeton, and others have pending spot XRP ETF applications pending with the SEC. Chair Paul Atkins will weigh in on these applications later this year, potentially leading to further ETF launches in the future.
As for now, it appears that ProShares is taking the necessary time to ensure a successful launch of their XRP ETFs. Keep an eye on the proceedings, but remember, always verify your sources before spreading the news.
- Uncritically believing unverified news can lead to misstatements, as seen with the unreliable reports about ProShares' XRP ETF launch on Apr. 30.
- In the crypto-finance world, it's essential to approach information with a Bollinger band of skepticism, ensuring to carefully check sources and avoid a hasty investment strategy.
- Despite the delay in ProShares' XRP ETF launch, other firms like Grayscale, Bitwise, and CoinShares have submitted spot XRP ETF applications to the regulatory body, SEC.
- Ether and Bitcoin have gained popularity among investors through ETFs, but it seems that the XRP ETF may still require Regulatory approvals before its release, as of January.
- Keeping an eye on the technology driving cryptocurrencies, several companies are eager toShape the future of finance by offering Ethereum, Bitcoin, and even XRP ETFs, demonstrating the vital role Technology plays in this growing and dynamic industry.
