ProShares Debuts 2x Solana and XRP ETFs After NYSE Arca Green Light
ProShares has rolled out two new leveraged crypto ETFs—Ultra Solana (SLON) and Ultra XRP (UXRP)—following approval from NYSE Arca, offering traders amplified exposure to SOL and XRP through futures-based instruments.
Both funds aim to deliver 2x the daily performance of their respective tokens, using regulated futures contracts rather than direct holdings. This structure sidesteps the SEC’s ongoing reluctance to approve spot crypto ETFs, while still giving investors access to altcoin price action via traditional brokerage platforms.
The launch adds to ProShares’ growing suite of crypto-themed products and signals increasing institutional appetite for more diverse digital asset strategies—especially those that cater to higher risk profiles via leverage.
The timing is notable: several spot ETF applications for Solana and XRP from firms like VanEck and Bitwise are still awaiting SEC decisions. In the meantime, futures-based ETFs like SLON and UXRP offer a regulated alternative to gaining exposure.
As ProShares continues to pioneer crypto ETF offerings, the debut of leveraged SOL and XRP products may serve as a preview of what’s to come—especially if regulatory momentum shifts toward approving spot altcoin ETFs in the near future.
