The ProShares XRP futures ETF, called ProShares Ultra XRP ETF, has been listed on the Depository Trust and Clearing Corporation (DTCC) under the ticker UXRP. This ETF is designed to give investors twice the daily return of XRP’s price movements.
Being listed on the DTCC doesn’t mean the ETF is already trading on the stock market. However, it shows that the fund is ready from a technical and operational point of view. ProShares is aiming to launch this ETF along with two others, the Short XRP ETF and UltraShort XRP ETF, on July 14. The date could change depending on approvals and other factors.
The company filed the ETF using a method that doesn’t require new approval from the SEC unless there are objections before the launch date. Even if the ETF becomes official on July 14, it might not start trading right away. That depends on whether the exchange and other systems are ready.
ProShares is also set to issue a number of Solana-based futures ETFs, such as Ultra Solana ETF, UltraShort Solana ETF, and Short Solana ETF. Currently, only the Ultra Solana ETF is available on the DTCC.
Once these XRP and Solana ETFs start trading, ProShares will become a major player in the U.S. crypto futures ETF market. They will join other companies like Teucrium Investment Advisors and Volatility Shares, which also offer crypto futures ETFs.
Also Read: VanEck’s Solana ETF Gets DTCC Listing, SEC Approval Next?
