ProShares Ultra XRP ETF ($UXRP) Gets Green Light By NYSE Arca

Key Highlights:

• The ProShares Ultra XRP ETF (UXRP) will begin trading by July 18. This marked a significant milestone for institutional access to Ripple’s native asset.
• Alongside UXRP, ProShares plans to launch inverse XRP ETFs — XRPS (-1x) and RIPS (-2x).
• Canada’s 3iQ XRPQ fund has surpassed $50 Million in AUM within a month. It was boosted by a 0% fee and direct investment from Ripple.
• XRP price breakout above $3.0 could lead to a significant rally to new cycle highs. This is possibly reaching $12–$23 by late 2025.

NYSE Arca has officially approved the listing of the ProShares Ultra XRP ETF. It will trade under the ticker $UXRP. This exchange-traded fund from ProShares offers 2x daily exposure to XRP.

This enables institutional and big investors to gain exposure to the Ripple crypto. XRP price has already been up 27% over the past week, and the current ETF development could push it further above $3 soon.

ProShares XRP ETF Launch Imminent After NYSE Arca Approval?

Per the filing on July 14, the SEC has approved the ProShares Ultra XRP ETF listing on NYSE Arca. This leveraged, futures-based exchange-traded fund (ETF) will trade under the UXRP ticker.

The ProShares Ultra XRP ETF is designed to deliver 2x the daily performance of an underlying XRP index. Rather than holding XRP directly, the fund achieves exposure through derivatives, including futures contracts and swap agreements.

This structure of the ETF also allows investors to take leveraged positions on the XRP price movement. They can do this without directly owning the digital asset. Besides, the fund also makes its way to the Depository Trust & Clearing Corporation (DTCC) for the eligibility list.

As reported earlier, the ProShares XRP ETF will go live by July 18, and today’s development further fuels investors’ hope. The announcement could come along with other major announcements during this Crypto Week.

With the positive developments in the Ripple lawsuit, the odds of XRP ETF approval have recently surged. Decentralized prediction platform Polymarket suggests that the odds of acceptance will reach 85% by the year-end.

In addition to UXRP, asset manager ProShares plans to expand its XRP-focused ETF lineup. They are launching 2 new inverse products: the Short XRP ETF (XRPS) and the UltraShort XRP ETF (RIPS).

The XRPS fund will aim to deliver 1x the daily performance of XRP, while RIPS is designed to offer 2x exposure. This would allow investors to earn leveraged inverse returns per the daily XRP price movement.

Canada’s 3IQ XRP ETF Sees Massive Demand, Crosses $50M AUM

XRP ETF launched by Canadian asset manager 3IQ has crossed $50 Million in assets under management. Per the official press release, it was done within a month of its launch.

The newly launched XRPQ fund has entered the market with strong momentum. It was fueled by a six-month 0% management fee and a direct investment from Ripple.

3iQ President and CEO Pascal St-Jean highlighted the launch as a significant milestone. Speaking on the development, Pascal stated:

Analysts Give Higher XRP Price Targets

With 27% upside over the past week, the XRP price has reached closer to the crucial resistance of $3.0. The recent price rally comes with daily trading volumes crossing $10 Billion. Popular crypto analyst Ali Martinez noted that upon crossing $3, the next immediate target for XRP could be $6.

Spotting the previous cycle tops, popular analyst EGRAG crypto stated that the third cycle top could come later in 2025. The analyst noted that crossing $3.65 could trigger the next leg of the rally to $12, and even beyond $23.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.