ProShares leveraged XRP ETF gets NYSE Arca clearance, prepares for trading debut

Key Takeaways

NYSE Arca permitted the itemizing of the ProShares Extremely XRP ETF, which goals to supply 2x leveraged publicity to XRP value actions.
ProShares is about to launch extra XRP-focused ETFs, together with inverse and leveraged inverse merchandise for diversified publicity.

Alternate NYSE Arca has “licensed the itemizing and registration” of the ProShares Extremely XRP ETF, in line with a Monday submitting with the SEC.

The certification got here after the fund appeared on the DTCC’s listing, signaling it’s operationally prepared for buying and selling and settlement, although its market debut should still face delays.

The leveraged futures-based ETF, anticipated to commerce on NYSE Arca beneath the ticker UXRP, seeks to ship 2x the each day efficiency of an XRP index utilizing derivatives similar to swap agreements and futures contracts, reasonably than holding XRP straight.

Along with the Extremely XRP ETF, ProShares plans to launch two associated merchandise — the Brief XRP ETF (XRPS) and the UltraShort XRP ETF (RIPS). Neither has but been listed on the DTCC.

A product web page for the Extremely XRP ETF went dwell Monday because the fund turned efficient. Nevertheless, buying and selling has not but commenced.

ProShares plans to launch its trio of XRP futures ETFs on July 18, per a July 11 submitting, although the timeline might shift.

NYSE Arca has additionally permitted the itemizing and buying and selling of ProShares’ Solana-linked product, the ProShares Extremely Solana ETF (SLON), a separate SEC submitting exhibits.