ProShares XRP ETF Receives SEC Approval—Imminent Launch Expected

The US Securities and Exchange Commission (SEC) has greenlighted the listing of the ProShares Ultra XRP ETF on NYSE Arca. Expected to begin trading by the week's end, the leveraged futures-based fund will trade under the ticker UXRP and aims to provide 2x the daily performance of an XRP index via derivative products, including futures contracts and swap agreements. This structure allows investors to gain leverage on XRP's daily price without owning the asset directly.

Meanwhile, the company also plans to launch two additional XRP-related ETFs, XRPS and RIPS, both aiming at delivering inverse returns of XRP's daily price movement. The launch of these ETFs may coincide with Crypto Week in Washington, D.C., where lawmakers are examining new crypto-related legislation.