ProShares XRP ETF approved; what’s next for Ripple?
NYSE Arca, the leading U.S. exchange for exchange-traded fund (ETF) listings, has officially approved the ProShares Ultra XRP ETF for listing and registration, according to a notice published by the U.S. Securities and Exchange Commission (SEC) on Monday, July 14. The leveraged futures-based fund will trade under the ticker UXRP, and trading is expected to begin by the end of the week. In a separate filing, the SEC also disclosed that the exchange has greenlighted the ProShares Ultra Solana (SOL) ETF as well, marking another step forward in expanding access to leveraged crypto-based investment products. XRP ETF filing. Source: SEC What does the XRP ETF mean? The XRP ETF is registered under the Securities Exchange Act of 1934 and will benefit from NYSE Arca automated auctions and enhanced price discovery. SEC’s decision coincides with the Crypto Week held in Washington, D.C., where legislators are debating key issues, including the Clarity Act and...