Apple ProRAW Resources
On December 14, 2020, Apple released its iOS 14.3 update which added the ability to shoot Apple’s new ProRAW format using the native Cameras app on its iPhone 12 Pro and 12 Pro Max smartphones.
Apple ProRAW is a new format that gives you all the standard RAW data with the photos, while also retaining the information generated by the phone's processing algorithms. Specifically, the DNG-based file will enable extra creative control in regards to white balance, exposure, tone-mapping and more.
You can learn more about ProRAW from the following resources:
Instagram Support For ProRAW
On Friday, December 18, 2020, Instagram developer Tim Johnsen announced via Twitter that "the social network is rolling out support for sharing Apple ProRAW photographs on the platform."
According to Johnsen, ProRAW photos in the DNG format are not able to be edited on Instagram. Further details aren't available, but it seems that Instagram is converting/compressing the ProRAW file into a .JPG file for display on the platform.