The world of crypto ETFs is expanding beyond Bitcoin and Ethereum. In a significant move, NYSE Arca has certified the listing of the ProShares Ultra XRP ETF, according to a letter filed with the U.S. Securities and Exchange Commission (SEC) on Monday. This new exchange-traded fund (ETF) provides investors with leveraged exposure to XRP futures, without requiring them to directly hold the underlying cryptocurrency.
What Is the ProShares Ultra XRP ETF?
The ProShares Ultra XRP ETF (ticker: UXRP) is a futures-based investment product designed to deliver twice the daily return of XRP futures contracts, before fees and expenses. This means that if XRP futures rise by 1% in a day, the ETF aims to return 2% for that same period. Conversely, losses are also magnified, making it a high-risk, high-reward option for more advanced investors.
While ProShares has not confirmed an official launch date, market watchers expect the ETF could begin trading as soon as this week. This follows a growing trend of faster regulatory approval for futures-based crypto ETFs, which are often viewed more favorably by the SEC than spot-based offerings.
Growing Interest in Diversified Crypto ETFs
This approval is more than just a milestone for XRP—it represents a broader shift in the crypto ETF space. ProShares is not stopping at UXRP. The firm has also proposed additional products, including a Short XRP ETF and an Ultra Short XRP ETF, designed to profit from daily declines in XRP futures prices.
Other asset managers are also moving quickly to capture investor interest, filing for ETFs linked to other popular digital assets like Solana (SOL) and Dogecoin (DOGE). These developments reflect the increasing demand for diversified, regulated crypto investment products that provide exposure beyond Bitcoin and Ethereum.
As traditional financial institutions continue embracing digital assets, the launch of the Ultra XRP ETF could pave the way for more innovative and accessible crypto investment vehicles in the near future.
