NYSE Arca has certified the listing approval of the ProShares Ultra XRP ETF, according to a letter sent to the SEC on Monday. The UXRP fund is a futures-based product, offering leveraged exposure to XRP’s price movements without directly holding the cryptocurrency.

ProShares states the ETF seeks to deliver twice the daily return of XRP futures, before fees and expenses. While the official trading date is unconfirmed, many expect it could launch as early as this week, following the trend of faster approvals for futures-based crypto ETFs.

This marks a major step forward for crypto ETFs beyond Bitcoin and Ethereum. ProShares also proposed a Short XRP ETF and an Ultra Short XRP ETF. Other firms have submitted applications for ETFs tied to Solana, XRP, and Dogecoin, reflecting a growing appetite for diversified crypto investment products.

ProShares ‘s website

Bitcoin has surged nearly 75% since mid-November, fueled by growing institutional interest, favorable regulations, and global economic shifts. A Deutsche Bank report highlights a historic drop in bitcoin’s volatility, signaling a more stable and mature market.

The rally coincides with “Crypto Week” in Washington, D.C., where lawmakers will vote on the CLARITY Act and the GENIUS Act. These bills aim to establish clear rules for crypto markets and stablecoins, increasing confidence among investors and regulators.

According to Deutsche Bank, falling volatility and rising adoption by retail investors, companies, and governments suggest bitcoin is shedding its speculative image. With greater regulatory clarity, the crypto asset is becoming more appealing to pension funds, sovereign wealth funds, and long-term investors.

Standard Chartered has launched spot trading for Bitcoin and Ether becoming the first major global bank to offer this service to institutional clients. The service is available through its UK branch during Asia and Europe trading hours with plans to expand to 24/5 trading.

Clients can access crypto markets using the bank’s existing FX trading platforms allowing asset managers corporates and large financial institutions to trade directly in BTC and ETH. Trades can be settled with a custodian of their choice including Standard Chartered’s in-house custody platform.

The bank has long supported digital assets through ventures like Zodia Custody Zodia Markets and Libeara. Its latest move reinforces its leadership in crypto with further plans to introduce non-deliverable forwards and expand its digital asset offerings as institutional demand grows.

Reuters

U.S. federal banking regulators have released a joint statement clarifying that existing rules apply to banks holding crypto for customers. The Federal Reserve Board, the OCC, and the FDIC said banks can offer crypto safekeeping, as long as they manage risks such as cybersecurity and control of private keys.

The agencies confirmed they are not introducing new rules. Banks must treat crypto like any other product by using strong risk management and governance frameworks. This move shows growing regulatory support as the crypto industry continues to expand.

Since President Trump took office, agencies have pushed for clearer crypto rules. The OCC recently allowed banks to buy and sell crypto on their own behalf. The FDIC no longer requires pre-approval for crypto activities. Jonathan Gould, a former blockchain executive, was confirmed last week to lead the OCC, signaling continued pro-crypto leadership in key financial agencies.

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Kazakhstan plans to explore crypto investments using national reserves including gold and foreign currency. Timur Suleimenov head of the national bank said the country is studying models from the US Norway and the Middle East where state funds hold crypto assets ETFs or shares in crypto-linked companies.

This move follows a global trend where governments adopt digital assets to diversify investments. Bhutan and even the Trump administration have made headlines for embracing Bitcoin as part of state strategy. Kazakhstan which controls about 13 percent of the global Bitcoin hashrate holds a strong presence in the crypto mining world.

While crypto’s volatility is a concern Suleimenov emphasized a cautious approach. He also confirmed plans to create a separate fund for crypto seized from illegal activities highlighting Kazakhstan’s growing interest in the digital asset space. The national bank aims for higher returns through aggressive strategies similar to sovereign wealth funds worldwide.

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