A new experimental system to measure elastic wave velocities in samples in situ under extreme conditions of pressure and temperature in a multi-anvil apparatus has been installed at Beamline 6-BM-B of the Advanced Photon Source at Argonne National Laboratory. This system allows for measurement of acoustic velocities via ultrasonic interferometry, and makes use of the synchrotron beam to measure sample densities via X-ray diffraction and sample lengths using X-radiographic imaging. This system is fully integrated into the automated software controls of the beamline and is capable of collecting robust data on elastic wave travel times in less than 1 s, which is an improvement of more than one to two orders of magnitude over existing systems. Moreover, this fast data collection time has been shown to have no effect on the obtained travel time results. This allows for more careful study of time-dependent phenomena with tighter snapshots in time of processes that would otherwise be lost or averaged out in other acoustic measurement systems.