TLDR

XRP ETF approval odds have increased to 86% according to Polymarket data.
The ProShares Ultra XRP ETF launched on NYSE Arca with strong first-day trading activity.
The UXRP fund closed up 6.10% after reaching an intraday high of $57.86.
ProShares is expected to file for a spot XRP ETF conversion in the near future.
The GENIUS Act has passed the House and created a more supportive environment for crypto ETFs.

Market expectations for a full XRP ETF approval increased sharply after the launch of the ProShares Ultra XRP ETF. Data from Polymarket now shows approval odds have risen to 86%, up 15% in just 24 hours. Analysts attribute this rise to strong opening performance and investor response to the leveraged ETF product.

ProShares debuted the Ultra XRP ETF (UXRP) on NYSE Arca on July 18 with notable demand and positive early trading activity. The fund opened at $50.84, surged to an intraday high of $57.86, and closed at $53.94. This 6.10% gain reinforced growing interest in XRP-based investment instruments.

The successful launch demonstrated strong demand for structured crypto investment options despite regulatory delays surrounding spot XRP ETF approvals. UXRP provides 2x leveraged exposure, appealing to traders seeking amplified returns tied to Ripple’s ecosystem. With ISO 20022 integration progressing, market confidence in XRP’s institutional growth is increasing steadily.

ProShares Ultra XRP ETF Shows Strong Early Performance

The ProShares Ultra XRP ETF showed clear market traction on its first trading day, signaling a shift in investor sentiment. Leveraged exposure offered by UXRP attracted interest from those anticipating short-term XRP price movements. Trading volume on day one suggested increasing appetite for XRP-linked financial products.

Although UXRP remains a futures-based product, its structure mirrors early Bitcoin ETF developments. Several issuers have previously launched similar leveraged funds before converting them into spot ETFs when conditions improved. ProShares reportedly plans a similar path, enhancing investor interest in long-term approval prospects.

Chad Steingraber, a prominent crypto figure, confirmed that ProShares aims to file for converting UXRP to a spot ETF. Market watchers consider this a tactical move similar to Bitcoin and Ethereum ETF strategies. Such developments have shifted attention toward a possible XRP ETF approval timeline.

Regulatory Environment and Market Sentiment Favor Spot Approval

Regulatory momentum also contributed to the increased approval odds for a spot XRP ETF in the United States. The passage of the GENIUS Act in the House provided a stronger legal framework for digital assets and stablecoins. This legislative development created a more stable environment for crypto investment product approvals.

Additionally, SEC Commissioner Hester Peirce recently indicated openness to new ETF products, improving market expectations around regulatory decisions. Her comments followed delays in multiple crypto ETF filings, which had previously dampened sentiment. This reassured stakeholders that compliance-aligned applications may gain approval sooner.

The post XRP ETF Odds Climb to 86% Amid Strong Launch of ProShares UXRP appeared first on CoinCentral.

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Filed under: News - @ July 19, 2025 6:32 pm