ProShares Debuts New Solana and XRP Leveraged ETFs Post NYSE Arca Clearance

ProShares Unveils Leveraged Solana and XRP ETFs Following NYSE Arca Approval

ProShares has launched two new leveraged cryptocurrency exchange-traded funds (ETFs), offering investors amplified exposure to Solana (SOL) and XRP through futures-based instruments. The new products—Ultra Solana (SLON) and Ultra XRP (UXRP)—were approved for listing by NYSE Arca, marking another step forward in the evolution of crypto-linked investment vehicles.

Both funds are designed to deliver twice the daily performance of their respective underlying assets using regulated futures contracts, rather than holding the digital tokens directly. This approach allows ProShares to navigate the current regulatory landscape, where the U.S. Securities and Exchange Commission (SEC) has yet to approve spot ETFs for many altcoins, including Solana and XRP.

The debut comes at a time when institutional interest in crypto continues to expand, particularly in products that offer enhanced exposure and operate within traditional financial frameworks. While several spot Solana and XRP ETF applications from firms such as VanEck and Bitwise remain under SEC review, ProShares’ futures-based approach provides a compliant and accessible alternative for investors seeking directional exposure.

The new ETFs also reflect a broader trend: as more digital assets mature and trading volumes deepen, issuers are increasingly exploring leveraged products to cater to traders and sophisticated investors. With SLON and UXRP now trading, ProShares further cements its role as a leader in the crypto ETF space, having previously introduced the first U.S.-listed bitcoin futures ETF in 2021.

As regulatory clarity evolves, these leveraged offerings may serve as a preview of what’s to come in the next phase of crypto-financial integration.