XRP Exposure Expands with New ETF Filings

Two recent filings with the U.S. Securities and Exchange Commission (SEC) identify three exchange‑traded funds (ETFs) that provide exposure to XRP, the digital asset issued by Ripple. The filings, dated August 27 and August 28, do not constitute new SEC approvals but show that existing fund structures are being expanded to include XRP‑related products.

ProShares adds unlevered and leveraged XRP ETFs

ProShares filed a Rule 24f‑2 notice that lists two series:

• ProShares XRP ETF (series S000091571) – an unlevered fund that seeks to track the Bloomberg XRP Index.
• ProShares Ultra XRP ETF (ticker UXRP, series S000091573) – a 2× leveraged fund that aims for twice the daily return of the same index.

The leveraged fund uses futures, swaps and other derivatives rather than holding XRP directly and carries an expense ratio of 1.67%. As of late August, its assets under management were reported between $40 million and $55 million, with a net asset value around $15.83. The product is designed for investors who monitor positions daily, as daily resets can cause performance to diverge from the underlying index over longer periods.

Morningstar’s mixed S&P 500/XRP strategy

Morningstar Funds Trust filed a post‑effective amendment for the Cyber Hornet S&P 500 and XRP 75/25 Strategy ETF (ticker XXX). The fund blends approximately 75 % exposure to the S&P 500 with about 25 % exposure to XRP, tracking the S&P 500 and S&P XRP 75/25 Blend Index. Its portfolio includes large‑cap equities such as Nvidia, Apple, Microsoft and Amazon. As of August 27, the fund reported a net asset value of roughly $22.08 and assets under management near $550 000.

Context: Spot XRP ETFs and market activity

Seven U.S. spot XRP ETFs had attracted about $1.57 billion in cumulative inflows by August 24, with Bitwise, Canary Capital and Franklin Templeton leading the group. Trading volume across these spot products reached a record $125 million on August 20, and institutional exposure was noted in Goldman Sachs’ second‑quarter filing.

Market backdrop and upcoming catalysts

Liquidity and leverage in the broader XRP derivatives market have risen, with futures open interest near $3.4 billion and leverage ratios on major exchanges reaching multi‑month highs. XRP price volatility remains pronounced, trading in a range of roughly $1.38–$1.46 in late August.

Two near‑term events could affect XRP dynamics:

• On September 1, Ripple is scheduled to release 1 billion XRP from its escrow, following its programmed monthly release schedule.
• The U.S. Senate will hold a cloture vote on the Digital Asset Market Clarity Act on September 15, a procedural step that could shape future regulatory oversight of digital assets.

Analysts at Standard Chartered estimate that clearer U.S. rules could unlock an additional $4 billion to $8 billion of inflows into XRP‑related investment products.