Proshares launched Leveraged Solana (SOL) and XRP ETF following NYSE ARCA approved
Two new funds exchanged by Crypto (ETFS) Targeting Solana
And the XRP launched in the US on Tuesday, marked another step in expanding the intersection of traditional finance and digital assets.
Proshares, a major player in Leveraged ETFS, combined Proshares Ultra Solana ETF (Elephant) and the prosrares ultra xrp etf (UXRP). Both products are aimed at delivering twice to the sunny performance of their own -based cryptocurrencies, but do so using regulated contracts with futures -not by handling the tokens themselves, Proshares said in a press release.
The launch follows the confirmation from the NYSE ARCA, which confirms the “Approval for the list” of the same coordination funding to the US Securities and Exchange Commission (Sec)According to two letters Filed Monday.
While these ETFs will not offer investors direct exposure to Sol or XRP price movements, their arrival in US exchanges reflects the growing institutional comfort with crypto-supported products-especially if tied to regulated derivatives markets.
Futures -based ETFs have a history of playing a role in place for area -based versions. Having a regulated futures market can help regulators measure liquidity, pricing mechanisms and investor protection, all major factors in reviewing applications for ETF spots.
Many ownership managers, including Vaneck and Bitwise, currently have active proposals including SEC for Solana and XRP ETF spot spot. The SEC has not yet approved any ETF areas tied to either property, but futures-based products such as Slon and UXRP can influence that path.
New funds also speak of increasing demand from merchants and institutions looking for leveraged exposure to major altcoins, although the image of regulation for crypto products is constantly changing.
