ProShares has achieved a major milestone with the NYSE Arca’s official certification for its Ultra XRP ETF, marking it as the first leveraged XRP-based exchange-traded fund (ETF) to receive such approval.
According to a filing submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, NYSE Arca has “certified the listing and registration” of the ETF.
The fund had recently appeared on the Depository Trust & Clearing Corporation’s (DTCC) list, indicating that it is fully set up from an operational standpoint for trading and settlement.
However, despite regulatory and technical readiness, the actual market launch may still face minor timing uncertainties.
UXRP ETF to Deliver 2x Daily Exposure to XRP Index Through Futures
The ProShares Ultra XRP ETF, expected to trade under the ticker UXRP, is a leveraged futures-based ETF that aims to provide twice the daily performance of an XRP index.
It does so, not by holding XRP tokens directly but by employing derivative instruments like futures contracts and swap agreements.
The strategy allows traders and institutional investors to gain magnified exposure to XRP’s price movements without needing to custody the asset themselves.
It represents a significant step forward in the integration of crypto-based assets with traditional investment vehicles, opening the door for more speculative and hedging strategies involving XRP.
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Two More XRP-Focused ETFs Coming Soon
In addition to UXRP, ProShares has announced two other XRP-related products: the Short XRP ETF (XRPS) and the UltraShort XRP ETF (RIPS).
These will allow investors to profit from downward movements in XRP’s price, with RIPS aiming to deliver twice the inverse of the daily XRP index performance.
Neither of these funds has been listed on the DTCC yet, and their trading dates remain unconfirmed.
However, their launch would complete ProShares’ planned trio of XRP futures ETFs, offering a full suite of long and short leveraged exposure for more advanced trading strategies.
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Launch Date Set for July 18, Pending Market Conditions
ProShares has scheduled the launch of its XRP ETF products for July 18, according to a July 11 SEC filing.
A dedicated product page for the Ultra XRP ETF went live on Monday, further confirming the fund’s active status.
Still, despite the regulatory green light, trading has not officially begun and could be delayed by market or administrative factors.
Separately, NYSE Arca has also approved the listing of the ProShares Ultra Solana ETF (SLON).
The aim is to broaden the firm’s reach into leveraged crypto-based products and indicate growing institutional acceptance of altcoin investment vehicles.
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Broader Regulatory Landscape Supports ETF Launch Momentum
ProShares’ regulatory success comes amid a wave of crypto-friendly decisions from global regulators.
Ripple, the blockchain company closely linked to XRP, recently secured a DFSA license in the UAE and partnered with Zand Bank and Mamo to expand its payment services in the region.
Meanwhile, in the U.S., the Office of the Comptroller of the Currency (OCC) has authorized national banks to trade crypto assets on behalf of clients, signaling growing regulatory maturity.
In Europe, Kraken has gained full approval under the EU’s MiCA framework via the Central Bank of Ireland, enabling access to 30 member states.
These global developments are creating a more structured and compliant ecosystem for crypto investment products like the ProShares ETFs to thrive.
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