TL;DR New XRP ETF offers double daily exposure using futures, not direct token ownership. XRP rises 25% as ETF launch and crypto legislation align, fueling trading interest this week. ProShares Ultra XRP ETF Approved for NYSE Arca Listing The US Securities and Exchange Commission has approved the listing of the ProShares Ultra XRP ETF on NYSE Arca. According to a filing dated July 14, the leveraged futures-based fund will trade under the ticker UXRP. Trading is expected to begin by the end of this week. The ETF has also been added to the Depository Trust & Clearing Corporation (DTCC) eligibility list, a key step before trading. While a product page is already live, the fund was not yet trading at the time of publication. Meanwhile, ProShares Ultra XRP ETF aims to deliver 2x the daily performance of an XRP index. Rather than owning the token directly, the fund intermediates it through derivative products: futures contracts and swap agreements. This enables investors to gain leverage on the price of XRP daily without necessarily possessing the asset. The fund’s leveraged structure is intended for short-term trading and may not be suitable for long-term holders. Its launch marks the first such XRP-linked product approved for public trading in the United States. Two More XRP ETFs Await Clearance The company also disclosed plans to launch two additional XRP-related ETFs. These include the Short XRP ETF (XRPS), which seeks -1x daily performance, and the UltraShort XRP ETF (RIPS), targeting -2x exposure. Both funds aim to deliver inverse returns of XRP’s daily price movement. As of now, neither of the inverse ETFs has appeared on the DTCC eligibility list. Their launch remains pending until they receive operational clearance. According to a recent amendment filed on July 11, the company has set July 18 as the tentative launch date for all three funds. ETF Launch Coincides with Crypto Week Legislation The launch of the ProShares XRP ETFs may align with Crypto Week in Washington, D.C., where lawmakers are reviewing new crypto-related legislation. Consequently, the timing could boost attention around XRP-related financial products, especially as industry watchers monitor developments around the Clarity Act and the Anti-CBDC Surveillance State Act. XRP price has gained around 25% over the past week amid increased speculation and institutional activity. The post SEC Approves ProShares XRP ETF—Launch Imminent appeared first on CryptoPotato .
