XRP News Today: ProShares XRP ETF Cleared for Trading on NYSE Arca

ProShares has received clearance from NYSE Arca for its leveraged XRP ETF, marking a significant step towards its trading debut. The ProShares Ultra XRP ETF, which aims to deliver twice the daily performance of an XRP index through derivatives such as swap agreements and futures contracts, has been certified for listing and registration. This certification follows the fund's appearance on the Depository Trust & Clearing Corporation's (DTCC) list, indicating its operational readiness for trading and settlement. However, the market debut of the ETF may still face delays.

The Ultra XRP ETF is expected to trade under the ticker UXRP on NYSE Arca. In addition to this product, ProShares has plans to launch two related ETFs: the Short XRP ETF (XRPS) and the UltraShort XRP ETF (RIPS). These ETFs have not yet been listed on the DTCC. A product page for the Ultra XRP ETF went live on Monday, coinciding with the fund becoming effective. Despite this, trading has not yet commenced.

ProShares initially planned to launch its trio of XRP futures ETFs on July 18, as per a July 11 filing. However, this timeline may shift due to various factors. The launch of these ETFs represents a strategic move by ProShares to offer investors exposure to the cryptocurrency market through leveraged and inverse products, providing both bullish and bearish investment opportunities. The certification by NYSE Arca is a crucial milestone, as it signifies regulatory approval and operational readiness. However, the actual trading debut may still be subject to further developments and market conditions.