ProShares Launches ETFs Targeting 2x Daily Returns of Solana and XRP

Jul 15, 2025

Launch of SLON and UXRP expands the largest suite of crypto-linked funds in the U.S.

BETHESDA, Md. – ProShares, the world’s leader in leveraged and inverse funds and a pioneer of crypto-linked ETFs, today announced the expansion of its industry-leading lineup with the launch of the ProShares Ultra Solana ETF (SLON) and the ProShares Ultra XRP ETF (UXRP).  

SLON targets 2x the daily performance of Solana, and UXRP targets 2x the daily performance of XRP—two of the world's largest cryptocurrencies.1 

"As cryptocurrencies become more widely adopted, investors are turning to platforms like Solana and XRP for exposure to next-generation blockchain technologies," said ProShares CEO Michael L. Sapir. "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."      

ProShares broke ground with the launch of the first U.S. bitcoin-linked ETF (BITO) in October 2021. Since then, ProShares has introduced the first U.S. short bitcoin ETF (BITI), the first U.S. ETF targeting the performance of ether (EETH), and the first U.S. short ether ETF (SETH), among other innovative solutions. ProShares offers the largest lineup of crypto-linked funds in the U.S., with 12 ETFs and three ProFunds mutual funds. SLON and UXRP join a range of leveraged crypto-linked ETFs with more than $1.5 billion in assets under management.2  

These ETFs, including SLON and UXRP, do not invest directly in cryptocurrencies. 

About ProShares 

ProShares has been at the forefront of the ETF revolution since 2006. ProShares manages over $85 billion in assets and offers one of the largest lineups of ETFs. The company is a leader in strategies such as crypto-linked, dividend growth, high income, interest rate hedged bond and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.

1. Source: CoinMarketCap
2. As of July 10, 2025 
Media Contact:
Tucker Hewes

212.207.9451

tucker@hewescomm.com
Investor Contact:
ProShares

866.776.5125

info@proshares.com
Media Contact:
Tucker Hewes

212.207.9451

tucker@hewescomm.com
Investor Contact:
ProShares

866.776.5125

info@proshares.com

Investing involves risk, including the possible loss of principal. There is no guarantee any ProShares ETF will achieve its investment objective. 

These ETFs invest in derivatives (swap agreements, futures contracts and similar instruments) that provide indirect exposure to Solana or XRP and do not invest directly in Solana or XRP.  Investors seeking exposure to Solana or XRP directly should consider an investment other than this ETF. Solana and XRP are each a relatively new asset class referred to as digital assets. The market for these digital assets is subject to rapid changes and uncertainty making them subject to unique and substantial risks, such as rapid price swings and lack of liquidity, including as a result of changes in supply and demand, statements by influencers and the media, and other factors. Digital assets are largely unregulated and may be more susceptible to fraud and manipulation than more regulated investments. Leveraged exposure to Solana or XRP will increase volatility. The strategy for the funds are measured from the close of one business day's NAV to the next. The value of an investment in these Funds could decline significantly and without warning, including to zero. These ETFs may not be suitable for all investors.    

These ETFs are non-diversified and are subject to risks associated with the use of futures contracts, leverage, and market price variance, all of which can increase volatility and decrease performance. These ETFs are new and may have a limited number of market makers. There can be no assurance the ETFs will be successful or that an active market for shares will develop. Shares of any ETF are generally bought and sold at market price (not NAV) and are not individually redeemed from the fund. Your brokerage commissions will reduce returns. 

Some ProShares ETFs seek daily investment results that correspond, before fees and expenses, to a multiple of (e.g. 2x or -2x) the daily performance of its underlying benchmark (the “Daily Target”). While the Funds have a daily investment objective, you may hold a Fund’s shares for longer than one day if you believe it is consistent with your goals and risk tolerance. For any holding period other than a day, your return may be higher or lower than the Daily Target. These differences may be significant. Smaller index gains/losses and higher index volatility contribute to returns worse than the Daily Target. Larger index gains/losses and lower index volatility contribute to returns better than the Daily Target. The more extreme these factors are, the more they occur together, and the longer your holding period while these factors apply, the more your return will tend to deviate. Investors should consider periodically monitoring their geared fund investments in light of their goals and risk tolerance. 

Carefully consider the investment objectives, risks, charges, and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing. Obtain them from your financial professional or visit ProShares.com. 

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds’ advisor or sponsor.

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