In a significant development for crypto-linked investment products, NYSE Arca has officially certified the listing and registration of ProShares’ Ultra XRP ETF. This was announced in a filing with the U.S. Securities and Exchange Commission (SEC) dated Monday. The leveraged XRP futures ETF is set to trade under the ticker symbol $UXRP.
ProShares’ Ultra XRP ETF aims to deliver twice the daily performance of an XRP index by using derivatives such as futures contracts and swap agreements. It is important to note that the fund does not hold XRP directly.
The certification follows the fund’s appearance on the Depository Trust & Clearing Corporation (DTCC) list, signaling it is operationally ready for trading and settlement. However, the exact trading debut remains pending, as ProShares eyes July 18 as its target launch date, as per a separate SEC filing dated July 11.
Alongside UXRP, ProShares plans to introduce two additional XRP-linked leveraged products: the Short XRP ETF (XRPS) and the UltraShort XRP ETF (RIPS). Both have yet to appear on the DTCC list, indicating they aren’t cleared for immediate trading.
Additionally, NYSE Arca has approved the listing and trading of the ProShares Ultra Solana ETF (SLON), a leveraged futures product tied to Solana’s performance. Details about its launch timeline are still under wraps.
A product page for the Ultra XRP ETF went live on Monday as the fund officially became effective, although trading has not yet commenced.
XRP’s price has dipped slightly, now trading at $2.91, down 2.89% in the past day. Its market cap sits at $172.33 billion, with 24-hour trading volume slipping 3.26% to $10.61 billion.
With NYSE Arca clearing the way, ProShares is steadily growing its lineup of crypto-related ETFs, showing how more institutional investors are looking for regulated ways to tap into digital assets like XRP.
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