XRP ETFs Gain Ground as US Regulated Investment Products
Two U.S. fund filings have listed three XRP-linked exchange-traded funds (ETFs), adding to evidence of the token's growing presence in regulated investment products.
The filings, dated August 27 and August 28, include ProShares' unlevered XRP ETF and its 2x leveraged Ultra XRP ETF. Morningstar Funds Trust's amendment lists a live fund combining S&P 500 stocks with XRP exposure.
Seven U.S. spot XRP ETFs had attracted $1.57 billion in cumulative inflows by August 24, according to previous reports. The filings come as Ripple is scheduled to release 1 billion XRP from escrow on September 1, and the Senate has scheduled a cloture vote on the Digital Asset Market Clarity Act for September 15.
The ProShares Ultra XRP ETF uses financial contracts, including futures and swaps, to create leveraged exposure, seeking twice the daily return of the Bloomberg XRP Index. It charges an expense ratio of 1.67% and has assets under management between $40 million and $55 million.