The U.S. Securities and Exchange Commission has greenlit the listing of ProShares' Ultra XRP ETF (UXRP) on NYSE Arca, with trading expected to commence by the end of this week. According to SEC filings dated July 14, this leveraged futures-based fund aims to deliver 2x the daily performance of an XRP index through derivatives like futures contracts and swap agreements—not direct token ownership.
ProShares also disclosed plans for two additional ETFs: the Short XRP ETF (XRPS) targeting -1x daily returns and the UltraShort XRP ETF (RIPS) seeking -2x exposure. All three funds have a tentative launch date of July 18 per a July 11 amendment, though the inverse ETFs await DTCC eligibility clearance. The launch coincides with Crypto Week in Washington D.C., where lawmakers are reviewing pivotal legislation like the Clarity Act.
XRP's price surged 25-30% over the past week amid the regulatory developments and ETF anticipation. Bloomberg analysts estimate a 95% probability of eventual spot XRP ETF approval, with over a dozen firms including Grayscale and Franklin Templeton having filed applications.