ProShares Lists Leveraged XRP ETF on DTCC Under ‘UXRP,’ Hinting at Imminent Launch
Key Points:
- ProShares’ leveraged XRP ETF is now listed on the DTCC under the ticker ‘UXRP.’
- The listing suggests the fund may be close to regulatory approval and launch.
- Similar leveraged XRP products have already been launched by Teucrium and Volatility Shares.
ProShares appears to be moving closer to launching its leveraged XRP ETF, as the fund has been listed on the Depository Trust and Clearing Corporation (DTCC) under the ticker symbol ‘UXRP.’ The listing is typically a step taken ahead of an official fund launch, pending final regulatory approval.
According to DTCC records, the ProShares Ultra XRP ETF has been added to the clearing agency’s platform, which includes both active and pre-launch funds. While the fund has not yet begun trading, its presence on the DTCC suggests that SEC approval could be imminent—a pattern previously seen with other ETF issuers, including those offering Bitcoin-based products.
ProShares had earlier updated its filing for the Ultra XRP ETF, along with the Short and UltraShort versions, signaling a potential May 14 launch, though that date ultimately passed without action.
Meanwhile, other firms have already entered the XRP ETF market. Teucrium introduced its 2x Long Daily XRP ETF in April, and Volatility Shares debuted its 1x Futures ETF in May.
The ProShares Ultra XRP ETF is designed to deliver 2x the daily performance of the XRP index using derivative instruments such as CME XRP futures contracts. Unlike a spot ETF, it does not provide direct exposure to XRP itself, but rather to its price movements via futures-based products.
Following the DTCC listing news, XRP’s price has broken past a key resistance level at $2.30 and is currently trading around $2.31, according to CoinMarketCap, reflecting a positive market reaction.
