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$XRP rockets into the spotlight as Proshares launches a 2x leveraged ETF, offering traders amplified exposure to crypto price swings through a regulated, futures-backed product.
Proshares Launches Leveraged $XRP ETF With 2x Daily Performance Exposure
Investor enthusiasm for $XRP is fueling the creation of regulated financial products that provide access to its price movements. Asset manager Proshares announced on July 15 the launch of the Proshares Ultra $XRP ETF (UXRP) and the Proshares Ultra Solana ETF (SLON), two leveraged exchange-traded funds (ETFs) designed to deliver 2x the daily performance of $XRP and solana, respectively. Rather than holding $XRP directly, UXRP uses futures and derivatives to replicate the token’s daily movements.
Proshares, which manages over $85 billion in assets and offers one of the largest lineups of ETFs, is expanding its suite of crypto-linked products with this launch. The debut followed a regulatory step forward a day earlier. On July 14, NYSE Arca filed a letter with the U.S. Securities and Exchange Commission (SEC) stating:
The NYSE Arca certifies its approval for listing and registration of the Proshares Ultra $XRP ETF, a series of Proshares Trust, under the Exchange Act of 1934.
Designed for traders seeking short-term directional plays, UXRP gives investors a way to pursue $XRP’s volatility without handling the token directly. Though daily-reset leverage introduces additional risk, $XRP’s growing use in cross-border payments strengthens its long-term case. Regulated instruments like UXRP enable market participants to engage with digital assets in more traditional frameworks.
UXRP joins a crypto ETF lineup that includes a U.S. bitcoin-linked fund (BITO), an ether-linked ETF (EETH), and short-position products like BITI and SETH. “SLON targets 2x the daily performance of solana, and UXRP targets 2x the daily performance of $XRP—two of the world’s largest cryptocurrencies,” Proshares noted. CEO Michael L. Sapir commented:
As cryptocurrencies become more widely adopted, investors are turning to platforms like solana and $XRP for exposure to next-generation blockchain technologies.
The chief executive further shared: “SLON and UXRP provide the opportunity to target leveraged exposure to solana and $XRP, allowing investors to overcome the challenges of acquiring leveraged exposure to these cryptocurrencies.”