TLDR
- ProShares has launched two new leveraged ETFs focused on Solana and XRP.
- The Ultra Solana ETF aims to deliver 2x the daily performance of Solana.
- The Ultra XRP ETF targets 2x the daily return of XRP through futures contracts.
- NYSE Arca approved both ETFs for listing and trading before their debut.
- These ETFs provide exposure to major cryptocurrencies without direct ownership.
ProShares has introduced two new leveraged ETFs, offering 2x daily exposure to Solana and XRP. These products, named Ultra Solana ETF (SLON) and Ultra XRP ETF (UXRP), received approval for listing from NYSE Arca. With this launch, ProShares expands its offerings in the digital asset ETF market.
Ultra Solana ETF offers 2x daily Solana exposure
The Ultra Solana ETF (SLON) seeks to deliver twice the daily return of Solana (SOL) by using futures contracts. Solana currently ranks as the sixth-largest cryptocurrency by market capitalization, according to CoinGecko. ProShares uses leveraged exposure strategies to track daily movements of the SOL market.
SLON enables investors to gain short-term exposure to Solana’s performance through a regulated exchange-traded product. The fund aims to simplify access to leveraged Solana exposure without needing direct cryptocurrency transactions. ProShares focuses on providing transparent and accessible alternatives in the growing blockchain asset class.
This ETF joins a growing number of digital asset-linked products in the ProShares lineup. The firm previously launched BITO, the first U.S. Bitcoin-linked ETF, and EETH, the first Ether-tracking ETF. SLON marks its latest expansion into blockchain-based investment vehicles.
Ultra XRP ETF tracks 2x daily XRP returns
ProShares has also launched the Ultra XRP ETF (UXRP), targeting 2x daily returns of XRP through futures-based strategies. XRP ranks as the fourth-largest cryptocurrency and remains central to many blockchain payment platforms. UXRP aims to provide leveraged access within a traditional ETF structure.
This new fund offers exposure to XRP price movements without requiring digital wallet infrastructure. The structure allows traders to access XRP’s market potential through familiar investment channels. It uses daily compounding to match 2x the asset’s performance within a single day.
With UXRP, ProShares adds a leveraged product that supports both institutional and retail investors. The firm emphasizes regulatory oversight and risk-managed structures in all its crypto ETFs. UXRP enhances the firm’s suite of alternative digital investment options.
