tl;dr
July is a crucial month for XRP-related ETFs in the U.S., with several issuers awaiting SEC approval to launch futures-based XRP ETFs. ProShares plans to introduce three such ETFs on July 14, including leveraged and inverse options, pending SEC clearance. Turtle Capital, Volatility Shares, and REX-O...
July is shaping up to be a pivotal month for XRP-related exchange-traded funds (ETFs) in the United States, as several issuers await clearance from the U.S. Securities and Exchange Commission (SEC) to proceed with their listings. The absence of objections from the SEC by key deadlines could allow these funds to officially launch and begin trading, potentially opening new doors for investors seeking exposure to XRP.
ProShares stands out as a major contender with plans to introduce three futures-based XRP ETFs on July 14. These include the ProShares Ultra XRP ETF, UltraShort XRP ETF, and Short XRP ETF, each designed to offer investors varied levels of exposure to XRP’s daily performance, including leveraged and inverse positions. Originally filed in January 2025, the launch was postponed from April 30 to July 14, with only the Ultra XRP ETF currently listed under the ticker UXRP on the Depository Trust and Clearing Corporation (DTCC) register. The other two await listing approval. Pending no SEC objections by the deadline, ProShares aims to move forward promptly with all three products.
Other noteworthy launches are on the horizon as well. Turtle Capital is eyeing a July 21 debut for its 2X Long XRP Daily Target ETF, currently under SEC review, while Volatility Shares plans to release two ETFs on the same date—a standard and a 2X leveraged XRP ETF. Encouragingly, the 1X XRP ETF from Volatility Shares became effective on July 7, suggesting a smoother regulatory pathway so far. Similarly, REX-Osprey seeks approval for a futures-based XRP ETF with a targeted launch on July 25.
It is important to underscore that all these ETFs are tied to futures contracts rather than direct XRP spot market holdings. Despite the SEC’s openness to futures-based XRP ETFs, it has yet to greenlight any spot-based XRP ETF. Over ten applications for spot XRP ETFs remain under review, with a final regulatory decision anticipated by mid-October, although delays cannot be ruled out.
These unfolding developments mark a critical juncture for XRP investors and the broader cryptocurrency ETF landscape. Will the SEC continue to favor futures-based products while holding back spot ETFs? What impact will these new offerings have on market dynamics and investor strategies? As July progresses, all eyes will remain fixed on the SEC’s moves and the potential expansion of XRP investment options.