ProShares Ultra XRP ETF is now listed on DTCC showing it is closer to potential launch and market readiness.
The ETF targets 2x daily XRP futures performance using CME contracts instead of tracking spot XRP prices.
ProShares also plans to launch Solana based ETFs as it expands its crypto futures offerings in the US market.
The ProShares Ultra XRP ETF has been listed on the Depository Trust and Clearing Corporation (DTCC) platform under the ticker ‘UXRP’. This listing suggests the fund may be nearing market readiness. DTCC listings typically indicate that the product has cleared operational steps required for eventual trading.
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Although the ETF has not launched yet, its appearance on the DTCC platform marks an important milestone. Funds listed in this section include both pre-launch and active products. Inclusion signals that the fund is eligible for clearing and settlement once it becomes available on an exchange.
ETF Targets 2x Daily Performance of XRP Futures
The ProShares Ultra XRP ETF is a leveraged product. It aims to deliver two times the daily performance of the XRP index. Instead of investing in the cryptocurrency directly, it will hold derivatives like CME-traded XRP futures contracts. These contracts derive value from the price of XRP and allow for daily exposure without direct asset ownership.
This structure is different since spot ETFs provide direct exposure of the investors on the underlying crypto asset. The ProShares fund is a vehicle that emphasizes daily performance so instead of being aimed at long-term holders, the fund is oriented to short-term traders.
ProShares Eyes July 14 Launch for XRP Futures ETFs
According to amended filings submitted on June 24, ProShares has set July 14 as the target date for launching three XRP-linked futures ETFs. These include the Ultra XRP ETF, the Short XRP ETF, and the UltraShort XRP ETF. The filing was made through a mechanism that allows the product to become effective without additional SEC review, provided no objections are raised.
However, ProShares previously missed its planned May 14 launch. As with all filings, actual trading depends on multiple factors. These include exchange readiness, market conditions, and backend operational clearance.
More Solana-Linked ETFs Under Consideration
ProShares also plans to expand its crypto ETF lineup with Solana-based products. These include the Ultra Solana ETF, Short Solana ETF, and UltraShort Solana ETF. So far, only the Ultra Solana ETF has appeared on the DTCC listing.
This move positions ProShares alongside Teucrium and Volatility Shares. Both firms launched XRP futures ETFs earlier this year. Teucrium introduced a 2x Long XRP ETF in April, while Volatility Shares released its 1x Futures ETF in May.
ProShares remains a leading provider of leveraged and inverse ETFs. Its upcoming crypto products reflect the growing demand for futures-based digital asset investment options in the United States.
