ProShares Launches Leveraged Solana and XRP ETFs Following NYSE Arca Approval
2025-07-15 17:36:08
Main Idea
ProShares has launched leveraged Solana and XRP ETFs, which aim to deliver 2x daily returns on SOL and XRP, following NYSE Arca's certification of listing approval in coordination with the SEC.
Key Points
1. ProShares introduced the ProShares Ultra Solana ETF (SLON) and the ProShares Ultra XRP ETF (UXRP), offering 2x daily returns on SOL and XRP.
2. The ETFs are futures-based and do not provide direct exposure to the price movements of SOL or XRP.
3. NYSE Arca certified the approval for listing these funds in coordination with the SEC.
4. Futures-based ETFs like SLON and UXRP could influence the path for spot ETFs tied to Solana and XRP, which are still awaiting SEC approval.
5. Several asset managers, including VanEck and Bitwise, have active proposals with the SEC for spot Solana and XRP ETFs.
Description
Two new crypto exchange-traded funds (ETFs) targeting Solana (SOL) and XRP (XRP) are launching in the U.S. on Tuesday, marking another step in the expanding intersection of traditional finance and digital assets. ProShares, a major player in leveraged ETFs, rolled out the ProShares Ultra Solana ETF (SLON) and the ProShares Ultra XRP ETF (UXRP). Both products aim to deliver twice the daily performance of their respective underlying cryptocurrencies, but do so using regulated futures contracts — n...
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