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.”

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