ProShares Rolls Out Leveraged Solana and XRP ETFs After NYSE Arca Approval
ProShares has officially launched two new leveraged cryptocurrency ETFs—Ultra Solana (SLON) and Ultra XRP (UXRP)—offering investors double the daily performance of Solana and XRP via futures contracts. The launch follows formal approval by NYSE Arca, adding to the growing lineup of crypto-focused exchange-traded products now available to U.S. investors.
Both funds aim to deliver 2x the daily return of their underlying digital assets, using regulated futures rather than holding the actual tokens. This structure allows ProShares to offer exposure to these popular altcoins within current U.S. regulatory guidelines, sidestepping the roadblocks that continue to delay spot ETF approvals for Solana and XRP.
The move highlights ProShares’ continued innovation in the digital asset space. The firm made headlines in 2021 with the launch of the first U.S. bitcoin futures ETF, and now extends its leveraged suite to two of the largest altcoins by market cap.
While spot Solana and XRP ETFs remain pending with the SEC, ProShares’ futures-based ETFs provide traders with a compliant option to express bullish bets on these tokens. The timing aligns with rising institutional interest and a renewed push for crypto ETF approvals across the board.
With SLON and UXRP now trading, investors can access amplified crypto exposure through traditional brokerage accounts—without needing to manage wallets, keys, or direct custody.
As market momentum builds and regulatory clarity improves, these ETFs could be a stepping stone to broader adoption of altcoin-based investment products in the U.S. financial system.
