XRP, Solana In Focus As ProShares Debuts Leveraged ETFs Following NYSE Arca’s Listing Approval
2025-07-16 09:20:48
Main Idea
ProShares has launched two new leveraged futures-based ETFs for Solana (SLON) and XRP (UXRP) on the NYSE Arca, offering investors 2x exposure to these cryptocurrencies, signaling growing institutional acceptance of crypto-backed investment vehicles.
Key Points
1. ProShares introduced the ProShares Ultra Solana ETF (SLON) and ProShares Ultra XRP ETF (UXRP), which started trading on the NYSE Arca.
2. These ETFs provide 2x leveraged exposure to Solana and XRP but do not offer direct investment in the underlying assets.
3. ProShares highlighted the risks associated with XRP, including price volatility and market uncertainty.
4. The launch reflects increasing institutional comfort with crypto-backed investment products, particularly for XRP and Solana.
5. Solana and XRP, the third and sixth largest cryptocurrencies by market cap, saw price increases of 3.1% and 2.9% respectively over the past 24 hours.
Description
ProShares has introduced two new leveraged futures-based products in the U.S., giving investors heightened exposure to Solana and XRP.
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