- ProShares Ultra XRP ETF, according to DTCC data, is currently trading under the ticker “UXRP” on the clearing agency’s platform.
- The daily investment return target for the ProShares XRP Ultra ETF is twice (2x) the daily performance target for the XRP index.
It seems that the ProShares XRP ETF is getting closer to debut now that it has been listed on the DTCC. It is common practice for this action to be a pre-launch stage on an exchange.
ProShares Ultra XRP ETF, according to DTCC data, is currently trading under the ticker “UXRP” on the clearing agency’s platform. Both current and “pre-launch” items may be found in this area of the platform.
All Eyes on SEC
This action suggests that ProShares may soon get regulatory permission from the US SEC. Even if the XRP fund has not yet launched. Bitcoin exchange-traded funds (ETFs) and other asset managers have their funds listed on the platform prior to getting SEC permission.
Initial reports indicated that ProShares revised the application for the Ultra XRP ETF (together with the Short and UltraShort XRP ETFs) to reflect a launch on May 14. Nonetheless, it did not materialize in the end.
Notably, additional exchange-traded funds (ETFs) based on XRP futures have also debuted around the same time. In April, the 2X Long Daily ETF was introduced by Teucrium. The 1x Futures ETF was introduced by Volatility Shares on May 21st.
The daily investment return target for the ProShares XRP Ultra ETF is twice (2x) the daily performance target for the XRP index. Investors in this leveraged fund do not have the same level of direct exposure to the cryptocurrency. As they would with a spot exchange-traded fund.
The ProShares fund will put its money into futures contracts and derivatives. Whose value is tied to the value of the underlying cryptocurrency, such as CME XRP futures.
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