NYSE Approves ProShares Ultra XRP ETF Launch

The New York Stock Exchange Arca has approved the ProShares Ultra XRP ETF (UXRP), a move allowing ProShares, a prominent ETF issuer, to list its new product on July 2025.

The approval highlights growing interest in cryptocurrency-linked leveraged ETFs, producing potential increased volatility in XRP markets in the near term.

ProShares Launches Double Return XRP ETF on NYSE Arca

ProShares, notable for its pioneering of the first Bitcoin futures ETF, is set to launch the Ultra XRP ETF. This product targets delivering two times the daily return of an XRP index, utilizing futures contracts rather than directly holding XRP.

With the arrival of the ProShares Ultra XRP ETF, individuals seeking double daily returns now have an additional choice. While it signals demand for high-risk crypto options, it also escalates potential XRP market volatility due to speculative use.

Industry responses to ProShares’ new ETF have emphasized the anticipated surge in market volatility. “XRP is a relatively new asset class and the market for XRP is subject to rapid changes and uncertainty. XRP is subject to unique and substantial risks, such as rapid price swings and lack of liquidity, including as a result of changes in the supply of and demand for XRP, statements by influencers and the media, and other factors.” – ProShares Trust, Financial Document, ProShares Trust Prospectus

XRP Market to React as ETF Drives Volatility

Did you know? The ProShares Ultra XRP ETF marks a pivotal expansion into leveraged crypto ETFs, echoing past market dynamics seen with the first US Bitcoin futures ETF handling similar speculative enthusiasm.

According to CoinMarketCap, XRP is currently valued at $2.92, experiencing a 2.87% reduction in the past 24 hours. Its market cap is approximately $172.50 billion, while the fully diluted market cap approaches $291.72 billion. Recent gains, such as a 40.14% increase over 90 days, demonstrate sustained growing interest.

Coincu’s research team suggests the listing of the Ultra XRP ETF may result in enhanced market engagements and price fluctuations. This assumption is based on prior ETF implementations displaying increased trading activity, underscoring potential complex market dynamics.