XRP ETF Approved by SEC, UXRP Ready to Launch

The recent approval of the ProShares Ultra XRP ETF by the U.S. Securities and Exchange Commission marks a significant milestone for XRP and broader crypto ETF offerings. This leveraged financial product, uniquely designed to track XRP through futures contracts, is now poised to begin trading on NYSE Arca under the ticker UXRP by the end of the week.

Unlike traditional ETFs that directly hold the underlying asset, the ProShares Ultra XRP ETF does not involve direct XRP ownership. Instead, it employs futures contracts and swap agreements to mirror XRP market movements, offering investors a leveraged, 2x daily exposure to the performance of an XRP benchmark index. This design allows for amplified returns on a daily basis, serving those who engage in short-term trading strategies, while also highlighting its unsuitability for long-term investing due to the inherent risks and volatility of leveraged products.

To facilitate imminent trading, the fund has been listed on the Depository Trust & Clearing Corporation (DTCC) eligibility list, an essential step before ETF products can officially begin trading in U.S. markets. Although a product page is already live and generating market anticipation, the ETF was not yet active on trading platforms as of the latest update.

This launch marks a historical moment, as the ProShares Ultra XRP ETF becomes the first publicly tradable fund in the U.S. specifically tied to XRP through derivative mechanisms. Its introduction is expected to attract both institutional and retail trading interest, especially among those looking to capitalize on the movements of XRP without owning the digital asset itself.

ProShares is also aiming to expand its XRP-focused ETF lineup. According to their recent disclosure, the firm is preparing to introduce two additional funds that offer inverse exposure to XRP. The Short XRP ETF (XRPS) is designed to return -1x the daily movement of the XRP index, while the UltraShort XRP ETF (RIPS) targets -2x the daily inverse performance. These products cater to investors looking to profit from downward price actions in the XRP market, adding more sophisticated tools to the trading arsenal depending on market sentiment and trends.

As of now, these inverse ETFs have not yet appeared on the DTCC’s eligibility list, meaning they must go through additional steps before they can be officially launched. However, an official amendment submitted on July 11 suggests ProShares has tentatively scheduled July 18 as the go-live date for all three ETF products, pending final approvals.

The ETF debut coincides with broader government discussions surrounding cryptocurrency regulation taking place during what’s been dubbed “Crypto Week” on Capitol Hill. Policymakers in Washington, D.C. are currently reviewing multiple legislative initiatives related to blockchain and digital assets, including proposals such as the Clarity Act and the Anti-CBDC Surveillance State Act. This alignment between the ETF’s launch and increased legislative attention may help drive heightened media coverage and investor interest in XRP-based financial instruments.

Alongside these regulatory developments and announcements, XRP itself has experienced a price rally, rising approximately 25% over the past week. This surge is believed to be driven by increased speculation surrounding institutional involvement and the growing availability of sophisticated investment vehicles like ETFs, which often serve as a gateway for traditional investors to enter the crypto space with greater familiarity and regulatory clarity.

Related: XRP Price: $12M Max Pain for Bears

With triple ETF approvals looming on the horizon and legislative winds shifting in favor of a clearer crypto framework, the XRP ecosystem is entering a potentially transformative phase. The launch of the ProShares Ultra XRP ETF marks a pivotal development in this evolution—offering a tangible sign that cryptocurrency is becoming more deeply integrated into conventional capital markets.