Two separate U.S. fund filings dated August 27–28, 2026 have brought ProShares XRP ETF back into the spotlight.
A ProShares Trust Rule 24f-2 notice filed on August 27 officially lists both the ProShares XRP ETF (series S000091571) and the ProShares Ultra XRP ETF (series S000091573, ticker: UXRP) as registered fund series.
A separate Morningstar Funds Trust post-effective amendment filed on August 28 again names the Cyber Hornet S&P 500 & XRP 75/25 Strategy ETF.
This is not a fresh SEC approval. It is further evidence that XRP is being treated as a permanent sleeve inside U.S. fund complexes, not a one-off experiment.
What the Filings Actually Say
The ProShares filing lists two XRP-linked series alongside other crypto products, including Ultra Solana and the CoinDesk 20 Crypto ETF.
The Ultra XRP ETF (UXRP) is already live. It launched in mid-July 2025, tracks 2x the daily Bloomberg XRP Index using futures and swaps, and does not hold spot XRP.
The expense ratio sits at 1.67%. Recent AUM snapshots put the fund in the $40–$55 million range, with NAV near $15.83 on August 28, after a sharp down day.
The unlevered ProShares XRP ETF (S000091571) appears in the filing but several trackers still mark it as pending, not yet live.
The Cyber Hornet 75/25 product first sought SEC clearance in September 2025. Cyber Hornet Seeks SEC Nod for S&P 500 and XRP ETF.
The Aug 28 amendment (Securities Act file 333-216479, PEA No. 15) confirms the product is now live under Morningstar Funds Trust. Inception date: January 30, 2026. NAV: approximately $22.08 as of August 27.
The fund holds direct XRP at roughly 25.7% alongside mega-cap S&P names, NVDA, AAPL, MSFT, and AMZN. AUM is tiny, near $0.55 million. It is a signal, not a flow driver.
Why Investors Should Pay Attention
XRP is no longer just a spot-ETF trade. The U.S. wrapper stack now spans spot funds, futures and strategy products, a 2x leveraged sleeve, and an equity-blend option.
21Shares recently moved TOXR to FTSE pricing as the broader XRP ETF complex crossed $1.44 billion in AUM, a sign that institutional plumbing is tightening around the asset.
Canary contributed $5.12 million, with its cumulative figure approaching $483 million. Historical net inflows across the complex now stand at roughly $1.66 billion.
The filing news lands against a broader regulatory backdrop. Ripple, XRPL, and XRP are already considered compliant with the CLARITY Act, according to a prominent crypto analyst.
Senate cloture on that bill is targeted for September 15. Standard Chartered has previously modeled $4–$8 billion in additional XRP ETF inflows if market-structure clarity is confirmed.
On the supply side, Ripple’s next 1 billion XRP escrow unlock faces a new dynamic if the CLARITY Act advances. That unlock is scheduled for September 1, just days away. Traders should watch both dates closely.
Leveraged products carry a specific warning. UXRP and other 2x products reset their exposure daily. They are trading tools, not long-term holdings.
XRP leverage on Binance hit $0.213, a seven-month high, after a 44% rally, with $3.4 billion in open interest crowding the long side. That crowded positioning makes leveraged ETFs especially risky at current levels.
The ETF shelf expansion also coincides with broader XRP ecosystem activity.
Ripple is preparing to shut down the XRPL native bridge, removing over 10,000 lines of dead code, a move analysts read as institutional-grade infrastructure cleanup happening in parallel with Wall Street’s growing XRP exposure.
XRP was trading in the $1.38–$1.46 range heading into the weekend, recovering from a near-$1 print earlier in August.
The September 1 escrow unlock and September 15 CLARITY Act cloture vote are the two nearest catalysts that could move that range meaningfully.
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