- XRP open interest surges ahead of ETF decision.
- ProShares’ ETF awaits SEC approval.
- Market anticipates shifts similar to BTC, ETH ETF launches.
XRP open interest has reached a multi-month high as ProShares awaits SEC approval for its Ultra XRP ETF. The ETF, listed on DTCC under ticker UXRP, is operational but pending regulatory clearance.
XRP’s market is closely watching regulatory developments, which signal institutional interest and potential liquidity growth.
ProShares is at the forefront of this market activity with its Ultra XRP ETF, targeting institutional investors. CEO Michael L. Sapir leads this ETF initiative, which positions ProShares as a major crypto ETF provider. Registration with the DTCC reflects its operational readiness, though SEC approval is still pending.
The rising XRP open interest indicates increasing speculation, joining the ranks of BTC and ETH ETFs in historical spikes. Institutional involvement highlights ProShares’ strategy to integrate with traditional financial infrastructure, potentially attracting large investment managers.
The financial implications extend across the crypto landscape. Institutional accessibility could lead to enhanced market liquidity. Ripple effects from ETF-driven funds were seen in related altcoins and paired assets such as BTC and ETH in similar past scenarios.
As the SEC decision approaches, historical trends suggest potential price volatility and trading volume spikes, supported by analogous ETF scenarios. The market expects similar financial outcomes, with on-chain metrics emphasizing speculative interest and liquidity shifts.
“There sure is a lot of $XRP ETF deadlines in July 👀” – Nick, Crypto Crusader, Twitter
