NYSE Arca has approved the listing of the ProShares Ultra XRP Exchange-Traded Fund (ETF), designed to offer investors twice the daily price movement exposure to XRP. This regulated investment vehicle facilitates access to XRP without requiring direct ownership, lowering barriers for institutional entry.
The approval signals growing institutional confidence in XRP’s place within traditional finance, aligning with broader cryptocurrency ETF trends. It provides a transparent, regulated vehicle with professional custody, which could enhance XRP’s market liquidity and price stability.
However, the leveraged nature of the ETF introduces significant risks, as the 2x daily return target magnifies both potential gains and losses. Approval occurs amid an ongoing complex U.S. regulatory landscape for cryptocurrency assets, where the Securities and Exchange Commission (SEC) has yet to greenlight numerous XRP ETF proposals. Canada previously launched its own XRP ETF.
Following the NYSE Arca announcement, XRP’s price saw a modest decline of approximately 3%, trading near $2.90, indicating a measured immediate market reaction to the news.