Two new funds criticized in exchange (ETF) directed to Solana
and XRP will be launched in the USA on Tuesday, marking another step at the expanding intersection of traditional finances and digital assets.
Proshares, an important player in ETF leverage, deployed the ETF of Proshares Ultra Solana (Slon) and the proshares ultra xrp ethf (UXRP). Both products are aimed at delivering twice the daily performance of their respective underlying cryptocurrencies, but they do it using regulated futures contracts, not holding tokens themselves, Proshares said in a press release.
The releases follow the confirmation of Nyse Arca, which certified the “approval for the list” of both funds in coordination with the United States Stock Exchange and Securities Commission (SECOND)According to two letters presented on Monday.
Although these ETFs will not offer investors direct exhibitions to Sun or XRP price movements, their arrival to US exchanges. UU. It reflects a growing institutional comfort with products backed by crypto, particularly when it is linked to regulated derivative markets.
Future -based ETFs have historically played a role on the way for point -based versions. The presence of a regulated futures market can help regulators to evaluate liquidity, price setting mechanisms and investor protection, all key factors to evaluate applications for ETF SPOT.
Several asset administrators, including Vaneck and Bitwise, currently have active proposals with the SEC for Spot Solana and Spot XRP ETF. The SEC has not yet approved any ETF spot tied to any of the assets, but the products based on futures such as SLON and UXRP could influence that path.
The new funds also talk about the increase in the demand of merchants and institutions that seek an leveraged expression to the main alternatives, even when the regulatory image of spot cryptographic products continues to evolve.
