Key Takeaways
- ProShares has launched 2x leveraged ETFs for Solana (SLON) and XRP (UXRP), providing buyers entry to enhanced publicity for these property.
- The corporate now provides 12 crypto-linked ETFs, increasing choices for US buyers with out direct crypto possession.
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ProShares, a number one issuer of leveraged and inverse ETFs, has launched two new leveraged futures-based merchandise monitoring Solana and XRP — the Extremely Solana ETF (SLON) and Extremely XRP ETF (UXRP), based on a Tuesday press launch. The debut of the ETFs comes after NYSE Arca cleared them for itemizing and buying and selling.
SLON is designed to ship 2x the every day efficiency of Solana (SOL), whereas UXRP provides 2x the every day efficiency of XRP. The rollouts are aimed toward increasing entry to leveraged publicity for 2 of essentially the most actively traded digital property on this planet.
“As cryptocurrencies develop into extra extensively adopted, buyers are turning to platforms like Solana and XRP for publicity to next-generation blockchain applied sciences,” mentioned ProShares CEO Michael L. Sapir. “SLON and UXRP present the chance to focus on leveraged publicity to Solana and XRP, permitting buyers to beat the challenges of buying leveraged publicity to those cryptocurrencies.”
The brand new funds be a part of ProShares’ current crypto-linked ETF lineup, which incorporates the primary US Bitcoin-linked ETF (BITO) launched in October 2021, together with the primary US quick Bitcoin ETF (BITI), the primary US ETF monitoring Ether efficiency (EETH), and the primary US quick Ether ETF (SETH).
ProShares presently manages over $85 billion in property, with its leveraged crypto-linked ETFs accounting for greater than $1.5 billion in property beneath administration. The corporate now provides 12 crypto-linked ETFs and three ProFunds mutual funds within the US market.
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