Groundbreaking News: ProShares Ultra XRP ETF Wades into the Wild Waters of Wall Street!

Well, bless my soul! It appears that ProShares has managed to charm the socks off the NYSE Arca folks, as they’ve been given the green light to hurl their Ultra XRP ETF onto the trading floor. Giddy up, trading will kick off by week’s end! 🎉

Now, if you can cast your mind back to that fateful July 14 filing with the Securities and Exchange Commission, you’d recall that NYSE Arca donned its finest approval hat and certified this little rascal under the ticker UXRP. Ain’t that a mouthful? 😄

As preliminary as a morning cup of joe, this fund made its initial appearance on the Depository Trust & Clearing Corporation’s eligibility list—talk about showing up to the party before the guest of honor! The product page for this beast was already live and well, but trading? Nah, that was still on the horizon like a distant ship at sea.

This ProShares Ultra XRP ETF is what you’d call a leveraged futures-based concoction, designed to pump out 2x the daily return of an XRP index. Rather than keeping XRP tucked away in its pocket, the fund chooses to court derivatives, such as futures contracts and swap agreements. Why own the cow when you can milk it without the fuss, eh? 🐄💰

As the wine-soaked grapevine has it, ProShares initially spilled the beans on two more XRP-linked funds—let’s call them the Short XRP ETF (XRPS), which aims for a delightful -1x daily performance, and the UltraShort XRP ETF (RIPS), which has its eyes set on -2x exposure. Ain’t that just the cherry on top? 🍒

These inverse products are like a dance at a ball, graciously delivering the exact opposite of XRP’s daily frolics. Picture this: the -1x fund sauntering upward when XRP is tripping downwards by the same percentage. Quite a waltz, wouldn’t you say? 💃

Alas, neither of these charming inverses has yet graced the DTCC list and are still cooling their heels waiting for operational clearance. Oh, the humanity! 😅

Reportedly, ProShares has the ambitious July 18 marked as the day they set sail for all three XRP futures-based ETFs. This launch just so happens to coincide with the grand finale of Crypto Week in Washington, D.C. where the lawmakers are deep in their legislative theatrics, chewing on notable bits like the Clarity Act and the Anti-CBDC Surveillance State Act. Timing is everything, ain’t it? 🕰️

With all this community hullabaloo surrounding the impending ETF launch, XRP has taken a delightful hop upward of about 30% over the past week. Now that’s what I call a little momentum! 🚀

Meanwhile, a host of twelve or so enterprising issuers have thrown their hats into the ring to launch XRP ETFs in the good ol’ U.S. of A., with the likes of ProShares, Grayscale, Franklin Templeton, Bitwise, WisdomTree, and 21Shares joining the fray. Talk about a crowd! 🎩

And according to the wise heads at Bloomberg, ETF analysts James Seyffart and Eric Balchunas have shoved the odds of the SEC granting a spot XRP ETF a staggering 95%. Now, if that isn’t a ticket to ride, I don’t know what is!

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2025-07-15 09:19