ProShares Ultra XRP ETF Gets Green Light: Set to Ignite Trading by Week's End!

NYSE Arca Gives the Nod to UXRP Ticker

Hold onto your hats, folks! ProShares just got the thumbs up to launch its Ultra XRP ETF on NYSE Arca. Brace yourselves because trading is about to kick off before the week wraps up!

From Filings to Futures: The Journey to Launch

Mark your calendars for July 14, when NYSE Arca confirmed the listing and registration of the ProShares Ultra XRP ETF, all set to trade under the ticker UXRP. This beast was already listed on the Depository Trust & Clearing Corporation's eligibility roster earlier this month, and even had its product page up and running, just waiting for the trading fireworks to start.

Amplify Your XRP Game with 2x Leverage

Ready to turbocharge your XRP investments? The ProShares Ultra XRP ETF isn’t messing around. It's a leveraged futures-based rocket, designed to deliver a whopping 2x the daily return of an XRP index. No direct XRP holdings here, just pure exposure through futures contracts and swap agreements. That means you can crank up the daily price movements of XRP without touching the actual asset!

More XRP Action on the Horizon?

Remember when ProShares spilled the beans about two more XRP-linked funds? We're talking the Short XRP ETF (XRPS) for -1x daily performance, and the UltraShort XRP ETF (RIPS) going for -2x exposure. These bad boys are set to flip XRP's daily returns on their head. If XRP drops, the -1x fund will soar by the same percentage on the same day. But hold your horses, neither of these has made it onto the DTCC list yet and they're still waiting in the wings for the green light.

Launch Date Looms: July 18 Marks the Start

Get ready, because ProShares has reportedly locked in July 18 as the launch date for all three XRP futures-based ETFs, according to a post-effective amendment filed on July 11. And get this, the launch is set to go down right at the end of Crypto Week in Washington, D.C. Talk about timing! With key legislation like the Clarity Act and the Anti-CBDC Surveillance State Act under review, all eyes will be on XRP and its investment vehicles.

XRP on a Bull Run: Up 30% in a Week

The crypto community is buzzing with excitement over the potential ETF launch, and it's clearly showing in the numbers. XRP's been on a tear, soaring about 30% over the past week. The hype is real!

XRP ETFs Lining Up: A Dozen Issuers in the Race

And it's not just ProShares in the game. At least a dozen other issuers have thrown their hats into the ring to launch XRP ETFs in the U.S. We're talking big names like Grayscale, Franklin Templeton, Bitwise, WisdomTree, and 21Shares. The race is on!

Bloomberg's Bold Prediction: 95% Chance of SEC Approval

Buckle up, because Bloomberg ETF analysts James Seyffart and Eric Balchunas are calling it: they're putting the odds of the SEC approving a spot XRP ETF at a staggering 95%. It's looking like a sure thing, folks!