Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Play-Acting Becomes Reality! SEC Approves ProShares XRP ETF, But It's Not a Spot ETF

Source Tradingkey

TradingKey - The market mistakenly believes the SEC approved a spot ETF for XRP. As a result, XRP's price rose against the trend.

On Sunday night (April 27), news broke that the SEC approved three ProShares Ripple (XRP) ETFs. This confusion boosted XRP's price, which increased by 4% this morning. Meanwhile, Bitcoin (BTC) fell by nearly 2%.

XRP and BTC price trend chart, source: CoinMarketCap.

Note: The SEC-approved ProShares XRP ETFs are not spot ETFs. They are based on futures and leveraged/inverse products. The application process for these is simpler. If the SEC does not raise objections within a fixed time, it becomes effective.

Even though the SEC hasn't approved a real spot ETF for XRP, its price remains strong. This indicates market optimism. Additionally, May 22 is a key date for the SEC's response on whether to approve Grayscale's XRP spot ETF. Keep an eye on this!

Source

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Markets in 2026: Will gold, Bitcoin, and the U.S. dollar make history again? — These are how leading institutions think After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?

Author Insights

Dec 25, 2025

After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?

ECB Policy Outlook for 2026: What It Could Mean for the Euro’s Next Move With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.

Author Mitrade

Dec 26, 2025

With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.

Gold holds steady above $4,800 amid US-Iran ceasefire uncertainty Gold price (XAU/USD) trades on a flat note near $4,825 during the early Asian session on Tuesday. The precious metal steadies amid renewed geopolitical instability in the Middle East.

Author FXStreet

Apr 21, Tue

Gold price (XAU/USD) trades on a flat note near $4,825 during the early Asian session on Tuesday. The precious metal steadies amid renewed geopolitical instability in the Middle East.

Silver Price Forecast: XAG/USD plummets below $76 as oil price posts fresh weekly high Silver price (XAG/USD) is down almost 2.3% to near $76.00 during the European trading session on Thursday. The white metal faces selling pressure as oil prices extends its winning streak for the third trading day on Thursday.

Author FXStreet

18 hours ago

Silver price (XAG/USD) is down almost 2.3% to near $76.00 during the European trading session on Thursday. The white metal faces selling pressure as oil prices extends its winning streak for the third trading day on Thursday.

Gold drops below $4,700 on stronger US Dollar, Middle East tensions Gold price (XAU/USD) falls to around $4,690 during the early Asian session on Friday. The precious metal attracts some sellers amid a stronger US Dollar (USD) and elevated oil prices that stoked inflation worries.

Author FXStreet

3 hours ago

Gold price (XAU/USD) falls to around $4,690 during the early Asian session on Friday. The precious metal attracts some sellers amid a stronger US Dollar (USD) and elevated oil prices that stoked inflation worries.

Popular Symbols