XRP News Today: ProShares XRP ETF Moves Closer to Launch with DTCC Listing

The ProShares Ultra XRP ETF, which will trade under the ticker UXRP, has been listed on the Depository Trust and Clearing Corporation (DTCC). This move is a significant step towards the ETF's potential public launch and regulatory approval from the Securities and Exchange Commission (SEC). The ETF is designed to offer investors twice the daily return of XRP’s price movements, making it a leveraged fund that uses financial instruments like derivatives and futures contracts to achieve its goals.

Listing on the DTCC is typically one of the final steps before a fund can start trading for the public. However, this does not guarantee an immediate launch. The ETF's addition to the DTCC platform indicates that it has completed important operational steps and is preparing for its debut. ProShares has also filed for the launch of two additional XRP ETFs: the Short XRP ETF and the UltraShort XRP ETF, with the aim of launching all three ETFs on July 14, provided there are no objections from the SEC.

ProShares' move to list the XRP ETF on the DTCC is part of a broader strategy to become a major player in the U.S. crypto futures ETF market. The company has also listed a number of Solana-based futures ETFs on the DTCC, including the Ultra Solana ETF, UltraShort Solana ETF, and Short Solana ETF. Currently, only the Ultra Solana ETF is available on the DTCC. Once these XRP and Solana ETFs start trading, ProShares will join other companies that offer crypto futures ETFs.

This development comes at a time when market excitement is growing, with XRP open interest reaching its highest levels. The potential approval of the XRP ETF by the SEC could provide new options for traders seeking exposure to the crypto market. However, it is important to note that the actual trading date of the ETF will depend on the readiness of the exchange and other systems, as well as any potential objections from the SEC.

Earlier, ProShares updated its filings for the Ultra XRP ETF, as well as for its Short and UltraShort XRP funds, to launch in May 2025. However, that launch did not materialize at the time. Meanwhile, other XRP futures ETFs have already entered the market. This shows growing interest in XRP-based investment products, as more asset managers seek to offer exposure to cryptocurrencies through regulated financial vehicles.

Listing on the DTCC has historically been a precursor to final approval from the SEC for similar crypto ETFs, including those based on Bitcoin. This has led many market watchers to believe that ProShares may soon receive the regulatory green light. Adding to the positive outlook, the SEC has just released its first in-depth set of guidelines for approving crypto ETFs. The guidance asks issuers to explain, in straightforward language, how these crypto products are different from traditional ETFs, including specifics about custody, unique risks, and operational hurdles tied to crypto markets. While these new rules don’t mean automatic approval for every application, they are widely viewed as a major step toward clearer regulations and could speed up the launch of new crypto ETFs for various digital assets.

At the same time, XRP’s price has reacted positively to all these updates. The token recently climbed above the $2.30 resistance mark and is now trading around $2.32, up 2% in the last 24 hours. This price jump shows that investors are gaining confidence and keeping a close eye on ETF approval progress, hopeful that it will lead to broader adoption of XRP in mainstream markets.