ProShares Ripple ETF Launch Rumors Debunked by Bloomberg Analyst

Confusion and misinformation have been spreading through the cryptocurrency news outlets over the past few days regarding the highly anticipated launch of Ripple ETF (Exchange Traded Fund) by ProShares this week. However, according to the reliable sources and experts, the reports of SEC's approval for the Ripple ETF launch are completely false.

The misunderstanding seems to have originated from an old document dated back to April 15th which was re-published online as breaking news. The document had mentioned April 30th as the launch date of Ripple ETF but it was actually an outdated piece of information.

James Seyffart, a renowned expert on Exchange Traded Funds (ETFs) at Bloomberg, has officially confirmed that no such launch is happening on April 30th as previously reported by some crypto media outlets. Seyffart revealed that the SEC has only given its initial approval but the final decision is still pending with no set launch date announced yet.

While futures ETFs have gained popularity and are performing well, spot ETFs of Ripple are still stuck in the lengthy regulatory process. Several companies like ProShares, Grayscale, and 21Shares are eagerly waiting for the green signal from the U.S. Securities and Exchange Commission (SEC) to move forward with their ETF plans.

The initial delays faced by these companies back in April have shifted the focus to a second decision window expected to take place in late May. However, the final verdict on some cases may not be announced until mid-October as the regulatory authorities are taking their time to assess and approve the applications.

It's crucial for the crypto community to remain cautious and verify information through authentic sources before falling prey to misinformation. The Ripple ETF launch is indeed on the horizon but it's important to be patient and await official announcements to avoid any confusion or false expectations.