- The ProShares Ultra XRP ETF has been listed on the DTCC, a key step before a public launch.
- This leveraged fund aims to deliver twice the daily performance of XRP through derivatives.
The ProShares XRP ETF is getting closer to launching, thanks to its recent addition to the Depository Trust and Clearing Corporation (DTCC),a key player in the U.S. financial markets that handles clearing and settlement. Being listed on the DTCC is typically one of the final steps before a fund can start trading for the public.
The ETF, which will trade under the ticker UXRP, isn’t guaranteed to launch immediately just because it’s on the DTCC platform. However, this move shows that the fund has finished important operational steps and is getting ready to make its debut.
The Road to Launch and the SEC’s Role
The ProShares Ultra XRP ETF is a leveraged fund, meaning it’s designed to give investors twice the daily returns of an underlying XRP index. Rather than holding XRP directly, the fund uses financial instruments like derivatives and futures contracts, including CME XRP futures, to achieve its goals.
Leveraged ETFs like this one are typically aimed at experienced investors who want to magnify their exposure to price swings, but they come with increased risks due to daily compounding and market volatility.
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. For example, Teucrium launched its 2X Long Daily ETF in April, and Volatility Shares introduced its 1x Futures ETF in May.
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 U.S. Securities and Exchange Commission (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. On July 1, 2025, the SEC’s Division of Corporation Finance published a 12-page document that spells out what fund issuers need to disclose for crypto asset exchange-traded products (ETPs).
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.