The ProShares UltraShort XRP ETF is a potential futures XRP ETF proposed by ProShares. The firm filed a registration statement with the U.S. Securities and Exchange Commission (SEC) to seek approval for this ETF.

This initiative by ProShares is part of a broader trend among financial firms looking to provide investors with regulated exposure to XRP, especially given the ongoing interest in cryptocurrencies. The ETF aims to provide investors with access to the XRP market through a traditional brokerage account, removing some of the barriers and risks associated with directly acquiring and holding XRP.

ProShares pushing for the launch of an XRP ETF marks one of several attempts by firms to launch such products amidst a shifting regulatory environment. Other companies filing for similar XRP-related products include Bitwise, 21Shares and CoinShares.