ProShares’ XRP futures ETF listed on DTCC underneath ticker UXRP
Key Takeaways
- ProShares’ Extremely XRP ETF has been listed on the DTCC underneath ticker UXRP, focusing on twice the every day return of XRP.
- Further XRP and Solana-based futures ETFs are deliberate, with ProShares aiming for a July 14 launch pending regulatory and operational elements.
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ProShares’ Extremely XRP ETF has been listed on the Depository Belief and Clearing Company (DTCC) underneath the ticker UXRP.
Inclusion on the DTCC eligibility listing doesn’t assure rapid market debut. Nonetheless, the itemizing alerts that the fund is operationally ready for buying and selling and settlement.
The fund is designed to ship twice the every day return of XRP’s worth actions. ProShares plans to launch two further XRP-centered futures merchandise – the Brief XRP ETF and the UltraShort XRP ETF – although these haven’t but appeared on the DTCC.
ProShares is focusing on July 14 for the launch of all three XRP futures-based ETFs, in line with a post-effective amended prospectus filed on June 24. Nevertheless, the timeline is topic to alter, and the corporate has beforehand postponed the efficient date for the reason that unique submitting in January.
The submitting was submitted via a procedural mechanism that permits the merchandise to launch with out additional substantive overview or specific reapproval from the SEC, offered no objections are raised earlier than the efficient date. Buying and selling might not start instantly on the efficient date, relying on trade readiness and different operational elements.
The highest issuer of leveraged and inverse exchange-traded funds can also be aiming to launch Solana-based funds, together with ProShares UltraShort Solana ETF, ProShares Extremely Solana ETF, and ProShares Brief Solana ETF.
At the moment, solely the ProShares Extremely Solana ETF seems on the DTCC itemizing.
As soon as the XRP and Solana funds are launched, ProShares will be a part of Teucrium Funding Advisors and Volatility Shares to supply an in depth suite of crypto futures-based ETFs within the US market.
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