Crypto
Crypto news update: US SEC approves launch of XRP Futures ETFs on April 30: How to buy; all you need to know | Stock Market News
The United States Securities and Exchange Commission (US SEC) has approved ProShares’ launch of XRP futures exchange-traded funds (ETFs) on April 30, the company said in a filing with the SEC. Here is all you need to know about XRP, the token’s maker Ripple, how the futures ETFs will work, and other details.
When was the XRP futures ETFs Proposed?
Proshares, which already offers Bitcoin ETFs, in January proposed the formation of three XRP linked ETFs — the Ultra XRP ETF (with 2x leverage), the Short XRP ETF (with inverse (-1x) leverage), and the Ultra Short XRP ETF (with inverse (-2x) leverage), according to a report by CryptoSlate.
ProShares’ XRP Futures ETFs will track XRP price on the XRP Index, the report added.
The proposal on January 17, 2025, came in the wake of “crypto-friendly” US President Donald Trump’s election, it said.
Are These The First XRP linked ETFs?
No, Teucrium’s XRP futures ETFs began trading on the New York Stock Exchange on April 8.
Meanwhile, ProShares has also applied for a XRP Spot ETF, which is pending for approval with the US SEC. A similar product by Hashdex — the world’s first spot XRP ETF — was approved in Brazil last week.
Further, CME Group is set to launch XRP futures contracts tied on May 19, “aiming to tap into the growing interest in tokens other than bitcoin and ether,” the company said, as per a Reuters report.
Besides XRP, crypto-related ETFs already exist for Bitcoin, Ethreum and Solana.
What Are Futures ETFs? How Will These Work?
A futures-based ETF provides exposure to the price movements of XRP futures contracts and unlike a spot ETF, would allow users to place bets on XRP’s price without buying the token.
Why Is This a Significant Development?
The launch of these XRP ETFs offer users a “regulated” path to making profit from XRP tokens, and could pave the way for institutional interest. The moves are already positive. Notably, after their ETF products were rolled out, both Solana and XRP have seen increased interest from institutional investors, the Reuters report added.
XRP price rose to $2.28, up over 6.35 per cent during early trade on April 28, according to data on CoinMarketcap. Its market cap is at $131.06 billion, up 2.67 per cent over the past day, with trading volume of $3.92 billion — zoomed up by 53.58 per cent over the past 24 hours!
Notably, while the rest of the top 10 on CoinMarketCap, including Bitcoin, are in the red today, XRP is the sole green. At time of writing, Bitcoin price today is at $93,081.91, down 1.79 per cent over the previous day, with market cap of $1.84 trillion and volume of $17 billion.
How To Buy ProShares XRP futures ETFs?
- You cannot trade directly with ProShares, as per thier website. However, you can use a trading platform or brokerage that supports crypto ETFs such as Fidelity, Robinhood, Vanguard, and TD Ameritrade, among others.
- As per a Binance article, you can deposit funds with your broker of choice and then wait for the ETF listing on April 30.
- On April 30, search for the code of ProShares XRP ETF, place your order, and buy he ETF you want.
Who is Behind the XRP futures ETFs? About ProShares & Ripple
According to the official ProShares website, the company has offered ETF products since 2006. It also described itself as having “one of the largest lineups of ETFs, with over $70 billion in assets”.
ProShares claims to be a leader in “crypto-linked, dividend growth, interest rate hedged bond and geared (leveraged and inverse) ETF investing” strategies.
Notably, XRP is the native token of Ripple Labs. The crypto company has been engaged in a regulatory tussle with the US SEC since 2020 over alleged sale of unregistered securities. The civil lawsuit was settled in March 2025. At the time, the XRP token surged 10 per cent near $2.5.
In a post on X, Ripple CEO Brad Garlinghouse called the end of the SEC’s case against his company a “resounding victory” and “long overdue surrender”.
(With inputs from Agencies)
Crypto
British Airline Jet2 Shares Jump 9% After $536M Fuel Hedge Gain Offsets Middle East Travel Fears
Key Takeaways
- Jet2 recorded a $536 million balance sheet windfall on July 8 after locking in low-cost fuel derivatives.
- The Middle East conflict triggered a 67% decline in annual cash inflows as travelers delayed holiday bookings.
- CEO Steve Heapy announced a $335 million buyback program and expanding operations at London Gatwick Airport.
Sector Resilience Amid Fuel Volatility
British airline and package holiday provider Jet2 defied intense geopolitical instability and travel sector panic triggered by the Middle East war by reporting a more than $500 million balance sheet boost, fueled by the rising price of jet fuel.
As the conflict in the Middle East escalated, spiking fuel rates caused the value of the company’s fuel derivatives to soar. According to Jet2’s full financial results released July 8, an extra $536 million in income was primarily driven by these favorable fair value movements.
The financial buffer comes after widespread fears earlier this year that rising energy costs could push airlines into bankruptcy and force massive summer holiday cancellations. In the United States, higher fuel prices contributed to the collapse of low-budget airline Spirit in May. The United Kingdom had been labeled as the nation “most exposed” to the jet fuel crisis, forcing government ministers to scramble to protect airline fuel access and temporarily suspend airport capacity rules.
While Jet2 was able to mitigate the price shock, the broader conflict still took a toll on booking behaviors. The airline conceded that ongoing travel uncertainty from the war caused holidaymakers to delay their trips and book much closer to their departure dates than usual. As a result, Jet2’s cash inflow plummeted by 67% to approximately $103 million for the fiscal year ending March 31.
Financially, Jet2 reported mixed full-year results. Group revenue climbed 4% to $10.05 billion, but pre-tax profit slipped 7% to $738.6 million, hit hard by lower income earned on its cash deposits.
Despite the profit dip, operational metrics showed strong consumer demand. Jet2 increased its total seat capacity by 8% to 24 million and flew 20.8 million passengers — a 5% increase year-over-year. The company also announced a new $335 million share buyback program, pointing to robust liquidity and confidence in its midterm outlook.
On the stock market, shares of the AIM-listed company jumped 9% to $19.92 at Wednesday’s opening bell, leaving the stock up 5% for the year.
Chief Executive Issues Tax Warning
The financial report coincided with an aggressive political warning from Jet2 Chief Executive Steve Heapy. Speaking to shareholders, Heapy cautioned political figures — specifically naming prominent politician Andy Burnham — against treating the aviation and holiday industry as a “cash cow.”
Burnham is widely anticipated to enter Downing Street later this month following recent political shifts.
“Don’t treat the aviation or holiday industry as a cash cow, because taxes increase the price of flying,” Heapy said, pointing out that Jet2 had to absorb $67 million in additional regulatory and tax costs over the last year. “I think, you know, enough is enough.”
Operationally, Jet2 is pushing a major expansion strategy designed to challenge the UK’s dominant legacy carriers. In March, the airline launched a six-aircraft hub at London Gatwick Airport, signaling an aggressive move out of its traditional northern England strongholds. The company notes it now operates within a 90-minute drive of more than 90% of the UK population.
Key Takeaways
- LAB token cratered 90% over 48 hours, wiping out billions in market cap.
- ZachXBT slammed top centralized exchanges for failing to halt the July manipulation.
- Investors surged to avoid trading LAB as team token unlocks are set for later in July 2026.
LAB Trade Blames ‘Large Market Participants’
LAB, the native token of the multi-chain trading platform LAB Trade, suffered a catastrophic collapse this week, plunging from just over $7 to $1.25 on Wednesday—a staggering 80% decline in under 24 hours. This crash followed an equally brutal sell-off on Tuesday, which saw the token slide from nearly $17. In total, LAB wiped out nearly 90% of its value in just 48 hours.
The financial fallout was swift: a market capitalization that exceeded $5 billion on Tuesday morning evaporated to just $390 million by 3:30 p.m. EST on Wednesday. The freefall prompted the LAB Trade team to address the panic on X, where they expressed disappointment and deflected blame toward external heavy-sellers:
“While today’s market activity is disappointing, our product roadmap and long-term focus remain unchanged. We’re seeing significant selling pressure from large market participants. Several independent trading firms also hold substantial LAB positions that are not affiliated with our team. We’re working closely with our liquidity partners and continue to monitor market conditions,” the team said on X.
With this crash, LAB joins a notorious lineup of volatile tokens, such as RAVE, RIVER and SIREN. Each of these projects experienced meteoric rises followed by near-instantaneous erasures, sparking widespread “pump-and-dump” allegations against their respective teams and murky distribution networks.
Crypto Sleuth Slams Centralized Exchanges
Prominent on-chain detective ZachXBT, who previously flagged suspicious insider loans and market-maker coordination back in May, blasted major centralized exchanges ( CEXs) for failing to protect retail investors. Taking to X, ZachXBT criticized the lack of proactive intervention:
“Disappointing to see how no action was taken by Binance, Bitget, and Gate earlier to prevent it. If CEXs cared, profits from the accounts manipulating the price would be distributed to users at a minimum. Unlocks for investors were scheduled to begin later this month, however, multiple late vesting changes occurred in the past.”
ZachXBT reiterated his previous warnings that insiders have effectively controlled the entire circulating supply, allowing market makers to orchestrate extreme price manipulation on major exchanges. His final advice to the community was blunt: avoid trading LAB under any circumstances.
ZachXBT Names RAVE, RIVER, SIREN, and LAB as Victims of Bitget-Enabled Market Maker Fraud
Blockchain investigator ZachXBT has renewed his assault on Bitget, accusing the exchange of knowingly enabling market makers to run supply…
ZachXBT Names RAVE, RIVER, SIREN, and LAB as Victims of Bitget-Enabled Market Maker Fraud
Blockchain investigator ZachXBT has renewed his assault on Bitget, accusing the exchange of knowingly enabling market makers to run supply…
ZachXBT Names RAVE, RIVER, SIREN, and LAB as Victims of Bitget-Enabled Market Maker Fraud
Blockchain investigator ZachXBT has renewed his assault on Bitget, accusing the exchange of knowingly enabling market makers to run supply…
-
Michigan5 minutes agoMenominee, Michigan man arrested on sexual assault charges involving a minor
-
Massachusetts12 minutes agoHealey administration vows to appeal as Trump rejects Massachusetts blizzard aid request – The Boston Globe
-
Minnesota15 minutes agoMinnesota Looks to Add 1,100 Child Care Slots, With Melrose Among the 11 Funded Communities
-
Mississippi20 minutes agoDeath of Mississippi teen Nolan Wells under investigation
-
Missouri27 minutes agoMissouri realtors hold statewide rally to vote no on Amendments 4 & 5
-
Montana30 minutes agoDistrict court judge blocks new Montana GOP bylaws – WTOP News
-
Nebraska35 minutes agoNebraska ag experts say early detection for livestock parasites, illnesses will be important during summer show season
-
Nevada42 minutes agoLocal artists on Northern Nevada stages, now through Labor Day weekend
