NYSE Arca, the top US exchange for listing and trading, has officially certified its approval of listing and registration of the ProShares Ultra XRP ETF, according to a SEC notice on Monday. In another notice, the SEC revealed that the exchange has approved the listing and trading of the Solana ProShares Ultra Solana ETF as well.
In its prospectus, the ProShares ETF discloses its targets and risks regarding Ultra XRP (UXRP), saying UXRP targets 2x daily XRP returns, but the obligations provided by the exchange must be followed to avoid potential risks.
Additionally, ProShares warns that XRP is largely unregulated and may be open to fraud and manipulation more than regulated investments, so it may face severe price volatility without warning and could reach zero.
ProShare indicates there is no guarantee by saying, “XRP is a relatively new asset class and the market for XRP is subject to rapid changes and uncertainty. XRP is subject to unique and substantial risks, such as rapid price swings and lack of liquidity, including as a result of changes in the supply of and demand for XRP, statements by influencers and the media, and other factors.”
Besides ProShares Ultra XRP ETF, NYSE Arca also approved the listing and trading of the ProShares Ultra Solana ETF (SLON), released in a separate SEC filing. Integrating Soolana into mainstream finance and potentially attracting investors will be a significant step in the product’s evolution.
This listing could make Solana more accessible and appealing to institutional investors, and may potentially result in high demand and adoption. Proshares reiterates that the disclaimer must be followed by the investors, and all objectives must be thoroughly considered before choosing to invest.
Under the Exchange Act of 1934, the NYSE Arca exchange released its long-awaited ProShares products. With its premium services of automated and transparent auction, and significant price improvement opportunities, URXP and Solana are set to skyrocket in adoption.
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