ProShares Lists 2x XRP & Solana Leveraged ETFs on NYSE Arca
ProShares has secured SEC approval and DTCC clearance to list its first U.S. altcoin leveraged ETFs—Ultra XRP and Ultra Solana—on NYSE Arca, targeting 2× daily returns via futures and swap derivatives. It also plans Short XRP and UltraShort XRP ETFs, pending DTCC eligibility, with all futures-based XRP products set to debut by July 18 during Washington, D.C.’s Crypto Week. This move has coincided with a roughly 30% rally in XRP over the past week. While these ETFs offer regulated, transparent exposure attractive to institutions, traders should monitor significant risks—XRP’s ongoing regulatory uncertainty, Solana network outages, and rapid value erosion in leveraged ETFs—as leverage can amplify both gains and losses.
Bullish
The SEC and DTCC approvals for 2× leveraged XRP and Solana ETFs on NYSE Arca represent a positive catalyst for both tokens. In the short term, listing on a regulated exchange drives institutional demand and liquidity, evidenced by a recent 30% rally in XRP. Although leverage products can increase volatility and decay over time, their transparent, regulated structure tends to attract capital. Over the long term, these ETFs could broaden investor participation, enhance market depth, and support sustainable price appreciation, outweighing inherent risks like regulatory uncertainty for XRP and Solana network outages.