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NYSE Arca has certified the listing approval of the ProShares Ultra XRP ETF, according to a letter sent to the SEC on Monday. The UXRP fund is a futures-based product, offering leveraged exposure to XRP’s price movements without directly holding the cryptocurrency.
ProShares states the ETF seeks to deliver twice the daily return of XRP futures, before fees and expenses. While the official trading date is unconfirmed, many expect it could launch as early as this week, following the trend of faster approvals for futures-based crypto ETFs.
This marks a major step forward for crypto ETFs beyond Bitcoin and Ethereum. ProShares also proposed a Short XRP ETF and an Ultra Short XRP ETF. Other firms have submitted applications for ETFs tied to Solana, XRP, and Dogecoin, reflecting a growing appetite for diversified crypto investment products.
