ProShares Doubles Down: 2X Leveraged Solana & XRP ETFs Hit the Market

Wall Street's latest crypto gamble just went live—and it's not for the faint-hearted. ProShares rolls out leveraged ETFs targeting Solana and XRP, amplifying gains (and losses) in a single trading session.

Double or nothing: These 2X daily funds let traders ride—or crash—with twice the volatility of SOL and XRP. Perfect for degens who think spot markets move too slow.

Just don't cry to the SEC when your portfolio gets liquidated by lunchtime. After all, what's finance without a little masochism?

Broader leveraged crypto ETF line

Leveraged crypto ETFs require investors to manage their positions actively because the products reset exposure daily. Gains compound during strong single‑direction moves, but losses magnify just as quickly when prices reverse. 

ProShares warned 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 broke ground in October 2021 with BITO, the first US Bitcoin futures‑linked ETF, and followed with BITI, the first inverse Bitcoin ETF. 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 digital asset pairs. However, regulatory clearance remains limited to futures-based structures that avoid direct custody issues.

ProShares said it will continue to evaluate demand for additional leveraged or inverse exposure as market infrastructure matures and regulatory guidance evolves.