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ProShares’ XRP Futures ETF Listed on DTCC Under Ticker UXRP
In a significant development, asset manager ProShares has successfully listed its Ultra XRP ETF on the Depository Trust and Clearing Corporation (DTCC) under the ticker symbol UXRP. This move marks a major milestone for the company, which had previously delayed the effective date for three XRP-based futures exchange-traded funds (ETFs).
As per reports, ProShares’ newly listed ETF aims to deliver twice the daily return of XRP’s price movements. The listing on the DTCC eligibility list indicates that the fund is now operationally prepared for trading and settlement.
ProShares has plans to launch two additional XRP-centered futures products – the Short XRP ETF and the UltraShort XRP ETF – although these have not yet appeared on the DTCC. The company is reportedly targeting July 14th for the launch of all three XRP futures-based ETFs, pending regulatory and operational factors.
It’s worth noting that inclusion on the DTCC eligibility list does not guarantee an immediate market debut. However, the listing serves as a strong indication that the fund is ready to begin trading and settling transactions.
ProShares’ move is significant, as it brings the total number of crypto-based ETFs in the US market to three. With this addition, the asset manager will join Teucrium Investment Advisors and Volatility Shares in offering an extensive suite of crypto futures-based ETFs.
The company also aims to expand its product offerings with Solana-based funds, including ProShares UltraShort Solana ETF, ProShares Ultra Solana ETF, and ProShares Short Solana ETF. Currently, only the ProShares Ultra Solana ETF appears on the DTCC listing.
By listing UXRP on the DTCC, ProShares has taken a crucial step in bringing more crypto-based products to the market.
Source: cryptobriefing.com
