TLDR
- ProShares has launched two new leveraged ETFs centered on Solana and XRP.
- The Extremely Solana ETF goals to ship 2x the every day efficiency of Solana.
- The Extremely XRP ETF targets 2x the every day return of XRP via futures contracts.
- NYSE Arca permitted each ETFs for itemizing and buying and selling earlier than their debut.
- These ETFs present publicity to main cryptocurrencies with out direct possession.
ProShares has launched two new leveraged ETFs, providing 2x every day publicity to Solana and XRP. These merchandise, named Extremely Solana ETF (SLON) and Extremely XRP ETF (UXRP), acquired approval for itemizing from NYSE Arca. With this launch, ProShares expands its choices within the digital asset ETF market.
Extremely Solana ETF affords 2x every day Solana publicity
The Extremely Solana ETF (SLON) seeks to ship twice the every day return of Solana (SOL) through the use of futures contracts. Solana at present ranks because the sixth-largest cryptocurrency by market capitalization, in line with CoinGecko. ProShares makes use of leveraged publicity methods to trace every day actions of the SOL market.
SLON allows traders to realize short-term publicity to Solana’s efficiency via a regulated exchange-traded product. The fund goals to simplify entry to leveraged Solana publicity while not having direct cryptocurrency transactions. ProShares focuses on offering clear and accessible options within the rising blockchain asset class.
This ETF joins a rising variety of digital asset-linked merchandise within the ProShares lineup. The agency beforehand launched BITO, the primary U.S. Bitcoin-linked ETF, and EETH, the primary Ether-tracking ETF. SLON marks its newest growth into blockchain-based funding autos.
Extremely XRP ETF tracks 2x every day XRP returns
ProShares has additionally launched the Extremely XRP ETF (UXRP), concentrating on 2x every day returns of XRP via futures-based methods. XRP ranks because the fourth-largest cryptocurrency and stays central to many blockchain fee platforms. UXRP goals to supply leveraged entry inside a conventional ETF construction.
This new fund affords publicity to XRP worth actions with out requiring digital pockets infrastructure. The construction permits merchants to entry XRP’s market potential via acquainted funding channels. It makes use of every day compounding to match 2x the asset’s efficiency inside a single day.
With UXRP, ProShares adds a leveraged product that helps each institutional and retail traders. The agency emphasizes regulatory oversight and risk-managed buildings in all its crypto ETFs. UXRP enhances the agency’s suite of other digital funding choices.
