ProShares has secured approval to list its Ultra XRP ETF on NYSE Arca, with trading slated to kick off before the week ends.
According to a July 14 filing with the U.S. Securities and Exchange Commission, NYSE Arca has officially certified the listing and registration of the leveraged fund under the ticker UXRP.
Earlier this month, the ProShares Ultra XRP ETF appeared on the Depository Trust & Clearing Corporation (DTCC) eligibility list as part of its operational setup. While its product page is already live, trading is yet to commence.
The Ultra XRP ETF is designed to provide investors with twice the daily returns of an XRP index. Rather than holding XRP directly, the fund gains exposure through derivatives such as futures contracts and swap agreements. This setup allows investors to amplify daily price movements without owning the underlying asset.
ProShares previously unveiled plans for two additional XRP-linked products: the Short XRP ETF (XRPS), which aims for -1x daily performance, and the UltraShort XRP ETF (RIPS), targeting -2x daily returns. Both are structured to deliver the inverse of XRP’s daily price movements. For example, the Short XRP ETF would gain value when XRP falls by an equivalent percentage on a given day.
However, neither XRPS nor RIPS has appeared on the DTCC list yet, with both still awaiting operational clearance. ProShares has tentatively set July 18 as the launch date for all three XRP futures-based ETFs, as disclosed in a post-effective amendment filed on July 11.
The potential launch coincides with the close of Crypto Week in Washington, D.C., where lawmakers are deliberating on key legislation, including the Clarity Act and the Anti-CBDC Surveillance State Act. This timing is expected to attract heightened attention to XRP investment products as the broader crypto sector remains in the spotlight.
Meanwhile, at least a dozen issuers, including Grayscale, Franklin Templeton, WisdomTree, Bitwise, and 21Shares, have filed to launch XRP ETFs in the United States. Bloomberg ETF analysts James Seyffart and Eric Balchunas currently place the odds of the SEC approving a spot XRP ETF at an optimistic 95%.
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