XRP News Today: ProShares Ultra XRP ETF Approved for NYSE Arca Listing, XRP Gains 25%

The US Securities and Exchange Commission has approved the listing of the ProShares Ultra XRP ETF on NYSE Arca, marking a significant milestone in the cryptocurrency investment landscape. The leveraged futures-based fund, which will trade under the ticker UXRP, is expected to begin trading by the end of this week. This ETF aims to deliver 2x the daily performance of an XRP index, providing investors with a way to gain leverage on the price of XRP daily without directly owning the token. The fund achieves this through derivative products such as futures contracts and swap agreements, making it suitable for short-term trading rather than long-term holding.

The approval of the ProShares Ultra XRP ETF comes at a time when there is growing interest in cryptocurrency-based investment products. The ETF's launch is expected to attract both institutional and retail investors seeking regulated exposure to digital assets. The ETF's structure, which includes a 0% management fee for the first six months, is likely to be a key factor in its early success. Additionally, the ETF's eligibility for tax-advantaged accounts in the U.S. is expected to broaden its appeal to a wider segment of investors.

ProShares has also disclosed plans to launch two additional XRP-related ETFs: 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. However, neither of the inverse ETFs has appeared on the Depository Trust & Clearing Corporation (DTCC) eligibility list, and 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.

The launch of the ProShares XRP ETFs coincides with Crypto Week in Washington, D.C., where lawmakers are reviewing new crypto-related legislation. This 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. The XRP price has gained around 25% over the past week amid increased speculation and institutional activity, further fueling trading interest in the cryptocurrency.

The success of the ProShares XRP ETF is a testament to the growing interest and investment in cryptocurrency-based ETFs. The ETF's rapid asset growth reflects a broader trend of institutional and retail investors seeking exposure to digital assets through regulated investment products. As the cryptocurrency market continues to evolve, demand for cryptocurrency ETFs is likely to rise, providing investors with more options to gain exposure to the asset class. However, investors should approach these products with caution and conduct thorough research before making investment decisions.