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XRP News Today: ProShares Launches 2x Leveraged ETFs for Solana and XRP
Generated by AI AgentCoin World
Tuesday, Jul 15, 2025 5:06 pm ET1min read
ProShares has introduced two new exchange-traded funds (ETFs) designed to provide 2x daily returns on the price movements of
(SOL) and XRP. The ProShares Ultra Solana ETF (SLON) aims to deliver 200% of Solana’s daily performance, while the ProShares Ultra XRP ETF (UXRP) targets the same leverage for XRP. Both funds track futures contracts rather than holding the underlying tokens, similar to ProShares' existing and offerings.CEO Michael Sapir highlighted that these new ETFs offer traders a means to overcome the challenges of acquiring leveraged exposure to Solana and XRP, which are frequently cited for their high-throughput payments and decentralized applications. The broader adoption of these blockchains encouraged ProShares to expand its suite beyond Bitcoin (BTC) and Ethereum (ETH).
Leveraged crypto ETFs require active management of positions because they reset exposure daily. While gains can compound during strong single-direction moves, losses can magnify just as quickly when prices reverse. ProShares cautioned in the prospectus that SLON and UXRP are suitable for experienced market participants who understand the mechanics of daily leverage and the potential for erosion in volatile markets. The funds charge management fees in line with the firm’s previous 2x funds.
ProShares has a history of innovation in the crypto ETF space, launching the first US Bitcoin futures-linked ETF, BITO, in October 2021, followed by the first inverse Bitcoin ETF, BITI. Last year, the firm listed EETH, the first ETF tied to Ethereum futures, and SETH, an inverse Ethereum fund. Including SLON and UXRP, ProShares now offers 12 crypto-linked ETFs and three crypto-linked mutual funds, with over $1.5 billion spread across its leveraged lineup. The company reiterated that none of its funds invest directly in digital assets; instead, they hold cash-settled futures traded on regulated exchanges.
Competitors have filed for products that track other
pairs, but regulatory clearance remains limited to futures-based structures that avoid direct custody issues. ProShares stated that it will continue to evaluate demand for additional leveraged or inverse exposure as market infrastructure matures and regulatory guidance evolves.
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