In a much-awaited development that could shake up the digital asset space, a recent filing indicates that ProShares Trust may launch an XRP Exchange-Traded Fund (ETF) on April 30, 2025. While the U.S. Securities and Exchange Commission (SEC) has yet to confirm a final approval, the proposed public offering date is now in black and white, raising hopes—and eyebrows—across the crypto market.
The buzz began when industry sources reported on a U.S. SEC document showing ProShares’ registration statement under the Investment Company Act with an “approximate date of public offering” set for April 30. While not yet a formal green light, this is the clearest signal yet that an XRP ETF is imminent.
XRP Price and Market Sentiment
The XRP price surged on the news, outperforming most altcoins over the weekend. Market analysts say that the ETF speculation aligns with strong technical setups forming across the crypto landscape, particularly falling wedge breakouts, a classic bullish pattern.
The Bigger Picture
While questions remain—such as why only ProShares has surfaced with a proposed launch date, and where BlackRock, Fidelity, and others stand—most experts agree this is a pivotal moment for crypto. If confirmed, XRP would join a select club of U.S.-regulated ETF offerings, a move that could open the floodgates for institutional capital.
CryptoQuant’s Realized Ethereum price by accumulating addresses is flashing a buy signal that foreshadows a massive bull rally for ETH if history rhymes. The last time this on-chain metric flashed this exact buy signal was in 2020, which led to a massive uptrend to new highs. Will history rhyme?
Ethereum Price Buy Signal Forecasts Massive Uptrend for ETH
As of Tuesday, March 18, 2025, Ethereum price trades around $1,900, down 47% from its yearly open. This bearish performance could come to an end soon as CryptoQuant data shows a buy signal for ETH.
The Realized Ethereum price by accumulating addresses indicator has slipped below the realized price, indicating that the holders are in loss. The last time this indicator flashed a buy signal was in March 2020, which was followed by a 5,560% rally to a new all-time high (ATH) of $4,868 in roughly the next two years.
Realized Ethereum Price by Accumulating Addresses
Ethereum Fundamentals Support A Massive Bull Rally for ETH Price
Although the Ethereum price performance for the past two years has been poor, time will tell if history will repeat or rhyme. Regardless, the ongoing crypto market consolidation is likely marking an end to the meme coin-based rally. The next phase of the bull run will most likely be driven by utility rather than vanity or hype.
If this is the case, then Ethereum is positioned as the best cryptocurrency, especially with the spot ETF already approved. Moreover, institutions are also going to flock to the Real-World Asset (RWA) or tokenization sector. Since RWA or tokenization sector is concentrated on Ethereum, it will likely enjoy a monopoly and the capital inflow is likely going to propel ETH’s value to new highs, potentially surpassing $5,000.
As noted in the previous CoinGape article, the key Ethereum price levels include $2,100. $2,200, $2,602 and $2,768.
If ETH price manages to produce a daily candlestick close above $3,000, it will signal the persistence of buying pressure and likely catalyze an extension of the uptrend to $4,000 and the current ATH at $4,868.
In a highly bullish case, Ethereum could also attempt a retest of the $5,000 psychological level.
Bitcoin ETFs (exchange-traded funds) recorded significant net outflows this week, with institutional investors pulling out nearly $800 million amid market uncertainties.
Despite high expectations for the White House Crypto Summit, Bitcoin ETFs saw their fourth consecutive week of outflows, suggesting that institutional sentiment remains cautious. Over $4.5 billion in net assets have exited the market in the past four weeks.
Bitcoin and Ethereum ETFs Experience Heavy Outflows
Data on SoSoValue shows US Bitcoin ETFs faced total net outflows of $799.39 million this week after five consecutive days of negative flows.
The largest single-day outflow of the week occurred on Friday, with $409 million withdrawn from Bitcoin ETFs.
Data on Farside Investors corroborates the outlook. It shows that the largest contributors to Friday’s landmark outflows were Ark Invests’ ARKB and Fidelity’s FBTC ETF instruments. They posted $160 million and $154.9 million in negative flows, respectively.
BlackRock’s IBIT and Grayscale’s GBTC followed with $39.9 million and $36.5 million. Meanwhile, the other issuers, save for Bitwise (BITB), recorded zero flows.
Ethereum ETFs also continued their negative trend, logging a second consecutive week of net outflows.
Ethereum ETFs Weekly Net Outflow. Source: SoSoValue
These negative flows come despite anticipation that this would be a bullish week amid White House Crypto Summit hype. The outflows suggest that macroeconomic concerns and strategic market positioning have overshadowed the event’s impact.
Some analysts point to persistent fears over President Trump’s trade tariffs and broader economic instability. These, they say, sour institutional confidence. Specifically, industry experts have highlighted structural shifts in the market as a possible explanation for the ongoing capital flight.
Kyle Chasse recently explained that hedge funds have been exploiting a low-risk arbitrage trade between Bitcoin spot ETFs and CME futures. However, as these trades collapse, liquidity is withdrawn from the market, influencing sell-offs and outflows from crypto investment products.
QCP Capital Explains Crypto Market Reaction
Meanwhile, a recent report from QCP Capital provided additional insight into the market reaction. The firm noted that while the White House Crypto Summit was initially expected to be a key bullish catalyst, President Donald Trump preempted expectations by signing an executive order establishing the Strategic Bitcoin Reserve and US Digital Asset Stockpile.
Upon the signing, Bitcoin’s price dropped sharply from $90,000 to $85,000 in what analysts called a “sell the news” event. Market participants positioned for a bullish outcome at the summit were caught off guard, leading to a sharp sell-off.
“The knee-jerk reaction lower likely stems from the realization that no actual budget has been allocated for BTC purchases in the near term,” read an excerpt in the QCP report.
This explains Friday’s climax of the week’s Bitcoin ETF outflows. Overall, it’s evident that macroeconomic factors are driving fears among institutional investors, at least for the short term.
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