##  [# ProShares Launches New SOL and XRP Crypto ETFs](/sections/etf-watch/proshares-launches-new-sol-and-xrp-crypto-etfs) 

 

# ProShares Launches New SOL and XRP Crypto ETFs

 

 

\- ProShares has launched the ProShares Ultra Solana ETF (SLON) and ProShares Ultra XRP ETF (UXRP).  
\- The firm now offers 12 crypto-linked ETFs.



 

 

 

 

 [![Malika](/sites/default/files/styles/author_image_icon/public/2025-03/Headshot%203.png?itok=STS0LyKG)](/authors/mallika-mitra) 

[By Mallika Mitra](/authors/mallika-mitra)

 Jul 15, 2025

 Edited by: David Tony

 

 

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ProShares is expanding its suite of crypto exchange-traded funds. On Tuesday, the firm [announced](https://www.businesswire.com/news/home/20250715642370/en/ProShares-Launches-ETFs-Targeting-2x-Daily-Returns-of-Solana-and-XRP) the launch of the [**ProShares Ultra Solana ETF (SLON)**](/SLON) and [**ProShares Ultra XRP ETF (UXRP)**](/uxrp), which target two times the daily performance of Solana and XRP, respectively.

“As cryptocurrencies become more widely adopted, investors are turning to platforms like Solana and XRP for exposure to next-generation blockchain technologies,” ProShares CEO Michael Sapir said via the company’s press release. “SLON and UXRP provide the opportunity to target leveraged exposure to Solana and XRP, allowing investors to overcome the challenges of acquiring leveraged exposure to these cryptocurrencies.”

## SLON &amp; UXRP: Under the Hood

SLON seeks two times the daily performance of the Bloomberg Solana Index and comes with an expense ratio of 2.14%. The underlying index is designed to measure the performance of a single Solana—the sixth-largest cryptocurrency by market capitalization, according [CoinMarketCap](https://coinmarketcap.com/).

UXRP seeks two times the daily performance of the Bloomberg XRP Index, which is designed to measure the performance of a single XRP. The fund comes with a 1.67% expense ratio. XRP is the third-largest cryptocurrency by market capitalization after Bitcoin and ether.

ProShares launched the first-ever bitcoin futures ETF, the [**ProShares Bitcoin Strategy ETF (BITO)**](/BITO), in 2021 and has since been a pioneer in the space. The firm also introduced the first short Bitcoin ETF, the [**ProShares Short Bitcoin Strategy ETF (BITI)**](/BITI), in 2022 and the first fund to bet on falling prices in Ether futures, the [**ProShares Short Ether Strategy ETF (SETH)**](/SETH), in 2023, among others.

The firm now offers 12 crypto-linked ETFs, according to the press release. Its leveraged crypto-linked ETFs have more than $1.5 billion in assets under management.

 
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## The State of Crypto Legislation 

The new ETFs come as lawmakers consider legislation that could make crypto more mainstream, including by regulating stablecoins and other digital assets. Republicans have dubbed this "Crypto Week" in Washington, D.C.

Crypto advocates are hopeful that President Donald Trump’s crypto-friendly stance (the president has promised to make the U.S. the “crypto capital of the world") will usher in a new wave of opportunity for digital assets. Bitcoin hit a new record Monday, topping $123,000 per coin.



 

 

 [ Mallika Mitra ](/authors/mallika-mitra) 

 

 

  Mallika Mitra is an experienced business and financial journalist. Her work can be found in Barron's, Kiplinger, CNBC, Bloomberg News, Bankrate, USA…   [View Bio](/authors/mallika-mitra)

 



 

 


 Related Topics  [Crypto](http://www.etf.com/topics/cryptocurrency) 

 [Crypto ETFs](http://www.etf.com/topics/crypto-etfs) 

 [Bitcoin](http://www.etf.com/topics/bitcoin) 

 [Ethereum](http://www.etf.com/topics/ethereum)