ProShares UltraShort Basic Materials Price & Performance (SMN)

ProShares is set to introduce three new futures-based ETFs tied to Ripple's XRP token on April 30, following regulatory clearance. The Ultra XRP ETF, Short XRP ETF, and Ultra Short XRP ETF will offer leveraged and inverse exposure. Meanwhile, spot XRP ETF applications remain under review by the SEC.12

XRP rose more than 3% Monday, reaching around $2.33, propelled by news of imminent ProShares XRP futures ETFs. The SEC's green light for these products has fueled optimism, even as spot ETF approval lags. The broader crypto market is also experiencing a recovery, with Bitcoin near $95,000.23

ProShares UltraShort Materials (SMN) closed at $16.33, up 1.81% as of April 25. The ETF has seen a near 60% surge in page views week-over-week, indicating heightened investor interest. SMN seeks to deliver inverse exposure to the materials sector, which has seen significant recent price swings.45