ProShares is taking a significant step towards expanding crypto-linked investment products in the U.S. market, with NYSE Arca officially certifying the listing and registration of the ProShares Ultra XRP ETF (UXRP). This crucial development was confirmed in a Monday filing with the Securities and Exchange Commission (SEC).
The certification from NYSE Arca follows the fund's recent appearance on the Depository Trust & Clearing Corporation (DTCC)'s list, a strong indicator that the ETF is operationally ready for trading and settlement. While its official market debut may still face minor delays, the DTCC listing signifies a major hurdle cleared.
The ProShares Ultra XRP ETF (UXRP) is a leveraged, futures-based exchange-traded fund designed to deliver 2x the daily performance of an XRP index. It achieves this through the use of derivatives like swap agreements and futures contracts, rather than directly holding XRP.
In addition to the Ultra XRP ETF, ProShares has plans for two other related products: the Short XRP ETF (XRPS) and the UltraShort XRP ETF (RIPS). These inverse leveraged ETFs aim to provide exposure to the opposite movement of the XRP index. However, neither XRPS nor RIPS has yet appeared on the DTCC's list.
A dedicated product page for the Ultra XRP ETF went live on Monday as the fund became effective, signaling its readiness, though trading has not yet commenced. ProShares has indicated a target launch date of July 18 for its trio of XRP futures ETFs, according to a July 11 filing, though this timeline could still be subject to change.
In a separate but equally notable development, NYSE Arca has also granted approval for the listing and trading of ProShares' Solana-linked product, the ProShares Ultra Solana ETF (SLON), as confirmed by another SEC filing. This further broadens the scope of crypto-linked investment opportunities becoming available through traditional financial instruments.
July 2025, Cryptoniteuae