ProShares Launches 2X Leveraged XRP ETF, Boosting Institutional Participation in Crypto
Institutional interest in XRP is on the rise as $85 billion asset manager ProShares officially announced the launch of the ProShares Ultra XRP ETF (UXRP), a new leveraged ETF that aims to deliver twice the daily price movement of XRP.
The product was announced on July 15, alongside the ProShares Ultra Solana ETF (SLON), marking a major expansion of ProShares’ crypto product suite. Rather than holding XRP directly, the UXRP uses futures and derivatives to replicate the daily price movements of the underlying asset.
A Breakthrough in Digital Asset Access
The UXRP is designed for high-risk investors seeking short-term gains through XRP price movements. The launch of this leveraged ETF provides investors with a regulated vehicle to access the digital asset market within the familiar regulatory framework of traditional financial markets.
ProShares received approval from NYSE Arca on July 14, ahead of the product’s official launch. In a letter to the U.S. Securities and Exchange Commission (SEC), the exchange confirmed its registration to list the UXRP under the Securities Exchange Act of 1934, paving the way for the product to operate transparently and in a regulated manner.
Bridging Traditional Finance and Crypto Markets
The launch of UXRP and SLON is part of a global trend where traditional investors are increasingly interested in accessing digital assets such as XRP and Solana without having to own the tokens directly.
XRP, as a cross-border payment solution used by many financial institutions, is increasingly asserting its practical application value. Meanwhile, Solana is considered a next-generation blockchain platform with fast processing speed and low costs.
Leveraged ETF products such as UXRP help individual and institutional investors participate in the cryptocurrency market under more tightly controlled conditions, reducing technical and legal barriers to directly trading digital assets.
Strengthening the Growth of the Crypto ETF Ecosystem
UXRP and SLON join a group of notable crypto ETFs currently available in the U.S. market, including the ProShares Bitcoin Strategy ETF (BITO), Ethereum Strategy ETF (EETH), along with leveraged and short position products such as BITI and SETH. All aim to diversify investment options in the growing blockchain sector.
“SLON and UXRP expand access to highly leveraged digital assets while helping investors address the liquidity, security, and custody challenges they typically face when investing directly in cryptocurrencies,” said Michael L. Sapir, CEO of ProShares.
Impact on XRP Market
Immediately after its announcement, the news of UXRP created a new wave of attention for XRP, helping to increase trading volume and strengthen confidence from institutional investors. The approval and listing of a 2x leveraged ETF is not only a sign of maturity in the digital asset market, but also a strategic step in bringing cryptocurrencies closer to the global financial ecosystem.
With the rapid expansion of crypto-related ETF products, ProShares is playing a pioneering role in bridging the traditional financial world with the blockchain era where digital assets are not only recognized for their value but also deeply integrated into modern investment portfolios.