- SEC approved the ProShares Ultra XRP ETF, offering 2x daily exposure to XRP through futures contracts with trading starting soon.
- This approval and ongoing crypto legislation have helped push XRP’s price up about 25% recently.
The US Securities and Exchange Commission (SEC) has approved the ProShares Ultra XRP ETF for listing on the NYSE Arca. Trading under the ticker UXRP, this new fund offers investors 2x daily exposure to XRP through futures contracts. The ETF is expected to start trading by the end of this week.
Unlike traditional ETFs that hold assets directly, the ProShares Ultra XRP ETF uses futures and swap agreements to track XRP’s price movements. This leveraged structure targets short-term traders and may not suit long-term investors.
Additional XRP ETFs Await SEC Approval
ProShares also plans to launch two more XRP ETFs offering inverse exposure:
- The Short XRP ETF (XRPS) aims for -1x daily performance.
- The UltraShort XRP ETF (RIPS) targets -2x daily exposure.
Investors who bet on XRP price declines will use these ETFs. The SEC is still reviewing their approval, with a tentative launch date set for July 18.
XRP Price Rises Amid ETF Launch and Crypto Legislation
The ETF launch coincides with “Crypto Week” in Washington, D.C., where lawmakers are reviewing key crypto regulations like the Clarity Act and the Anti-CBDC Surveillance State Act. This regulatory focus has increased interest in XRP-related financial products.
As a result, XRP’s price has surged about 25% over the past week, driven by growing speculation and institutional activity following the ETF approval and clearer regulatory signals.
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