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NYSE Arca Approves ProShares Ultra XRP ETF and Solana Listings
In a significant move, the New York Stock Exchange (NYSE) Arca has officially certified its approval of listing and registration of the ProShares Ultra XRP ETF (UXRP) and ProShares Ultra Solana ETF (SLON). This decision marks a major milestone in the cryptocurrency market’s mainstream integration.
ProShares Ultra XRP ETF
The ProShares Ultra XRP ETF, also known as UXRP, targets 2x daily XRP returns. According to the prospectus released by ProShares, investors should be aware of the potential risks associated with this product. The exchange has emphasized that investors must follow the obligations provided by the exchange to avoid potential risks.
It is essential for investors to understand that XRP is largely unregulated and may be more susceptible to fraud and manipulation compared to regulated investments. This could result in severe price volatility without warning, potentially leaving XRP’s value at zero.
ProShares has cautioned investors that “XRP is a relatively new asset class and the market for XRP is subject to rapid changes and uncertainty. XRP is subject to unique and substantial risks, such as rapid price swings and lack of liquidity, including as a result of changes in the supply of and demand for XRP, statements by influencers and the media, and other factors.”
ProShares Ultra Solana ETF
In addition to the ProShares Ultra XRP ETF, NYSE Arca has also approved the listing and trading of the ProShares Ultra Solana ETF (SLON). This move is expected to make Solana more accessible and appealing to institutional investors, potentially leading to high demand and adoption.
Both UXRP and SLON will be available for trading starting from July 18th.
Source: coinpedia.org
