Two fresh US fund filings dated August 27 and August 28 have listed three XRP-linked exchange-traded funds, adding to a growing body of evidence that the token is steadily embedding itself across regulated investment products in the United States.
The filings, submitted to the US Securities and Exchange Commission, identify two ProShares products and one Cyber Hornet strategy fund. Neither document represents a new SEC approval, but together they illustrate how fund managers keep expanding the menu of regulated XRP exposure available to American investors.
## ProShares lists two XRP series
A Rule 24f-2 notice submitted by ProShares Trust on August 27 names the ProShares XRP ETF under series number S000091571 alongside the ProShares Ultra XRP ETF, registered as series S000091573 and traded under the ticker UXRP. The notice places the two XRP products beside other crypto funds from the issuer, including its Ultra Solana product and the CoinDesk 20 Crypto ETF.
Filed under the Investment Company Act, Rule 24f-2 notices concern securities sold by investment companies and the registration fees attached to them. Their appearance in the SEC’s filing system should not be read as approval of a new product or as a ruling on XRP’s regulatory status.
UXRP has traded since July 2025 and seeks twice the daily return of the Bloomberg XRP Index. Rather than holding XRP directly, the fund uses financial contracts, including futures and swaps, to create its leveraged exposure. It charges an expense ratio of 1.67 percent, and market snapshots around August 28 placed its assets under management between 40 million USD and 55 million USD, with a net asset value near 15.83 USD after XRP recorded a sharp daily decline.
Daily leverage makes UXRP materially different from an ordinary spot ETF. ProShares states in its fund materials that the product pursues its target for a single trading day, meaning returns over longer periods can depart significantly from twice XRP’s cumulative performance. Compounding becomes more pronounced when prices swing repeatedly in both directions, so the fund is designed primarily for investors who monitor positions frequently.
The unlevered ProShares XRP ETF listed under series S000091571 presents a different case. Although the series appears in the trust filing, several fund-tracking services still label the product as pending rather than available for trading, and a series registration alone does not establish that shares have launched.
## Cyber Hornet mixes equities with XRP
Morningstar Funds Trust filed a separate post-effective amendment on August 28 that includes the Cyber Hornet S&P 500 and XRP 75/25 Strategy ETF, which began trading on January 30, 2026 under the ticker XXX.
The fund tracks an index that assigns roughly 75 percent of exposure to the S&P 500 and about 25 percent to XRP. Its equity holdings include Nvidia, Apple, Microsoft and Amazon, according to its portfolio information. The XRP-related allocation stood at approximately 25.7 percent, while the vehicle reported a net asset value of about 22.08 USD as of August 27.
Assets under management remain close to 550,000 USD, making the fund small compared with established equity or crypto ETFs. Its size means it is not a major source of XRP demand, but its structure shows how US fund managers are placing digital assets inside mixed portfolios alongside household-name stocks. The product launched alongside sibling Cyber Hornet funds pairing the S&P 500 with Ethereum and Solana.
For American investors, the growing range of listings provides multiple routes to XRP exposure without managing a crypto wallet: spot funds, futures-based vehicles, leveraged ETFs, and hybrid equity-crypto products. Each structure carries different costs, tax considerations and risks, and an exchange listing does not remove the possibility of losing principal.
## Spot XRP funds keep drawing capital
Demand for the filings sits against a much larger backdrop. Seven US spot XRP ETFs had accumulated about 1.57 billion USD in cumulative net inflows by August 24, according to previously reported figures.
Bitwise’s fund led the group with approximately 542 million USD in cumulative inflows, followed by Canary Capital with about 468 million USD and Franklin Templeton with 434 million USD. Trading volume across the seven products reached a record 125 million USD on August 20.
Institutional interest is also visible in bank disclosures. Goldman Sachs reported 86.5 million USD of exposure spread across five spot XRP ETFs in its second-quarter regulatory filing, having reported no XRP ETF holdings at the end of the first quarter. Earlier, Bitwise chief executive Hunter Horsley said in June that the firm’s XRP products in the United States and Europe had surpassed 200 million USD in year-to-date inflows.
## September catalysts loom
XRP traders now face two near-term events that could shape flows into these products. An escrow unlock is scheduled for September 1, historically a source of supply-side anxiety, and the US Senate is expected to hold a procedural vote on market-structure legislation on September 15, an outcome with direct implications for how tokens like XRP are regulated.
Whether the newest filings turn into trading products remains to be seen, but the direction is clear: issuers keep preparing for a market where XRP sits inside ordinary brokerage accounts, next to index funds and tech stocks, rather than only on exchanges.
a Rule 24f-2 notice is literally about registration fees and people are already shouting XRP ETF approved. read the filing lol
UXRP running 2x leverage via futures and swaps instead of spot tells you who this product is actually for. degens in an ETF wrapper
Morningstar showing up next to ProShares in these filings is the interesting bit. data companies want a piece of XRP products now
1.67 percent expense ratio on UXRP is brutal for something that decays if you hold it more than a day. who is the customer here
day after a sharp XRP decline the AUM is sitting between 40 and 55 mil. leveraged longs got washed out of that thing for sure
that AUM range being 40 to 55 mil wide after the drop says redemption chaos. nobody agrees what the leveraged thing is worth day to day
intraday traders who are in and out before the decay matters. 1.67 percent is ugly but single session holders never pay a full day of it
Its a 24f-2 notice, basically paperwork about registration fees. Not an approval. Worth remembering before the timeline crowd starts posting dates.
morningstar putting its name on crypto funds is the quiet headline here. ratings shops only show up once they think the category survives