What Are SLON and UXRP ETFs?

These newly launched ETFs are designed for investors seeking leveraged exposure to popular altcoins without directly purchasing the underlying assets:

• SLON ETF: Targets twice the daily performance of Solana.

• UXRP ETF: Aims for 2x the daily returns of XRP.

These ETFs provide an accessible route for investors to participate in the price movements of these major cryptocurrencies using traditional financial instruments.

ProShares CEO Highlights the Growing Demand

In a statement about the launch, ProShares CEO Michael L. Sapir commented:

“As cryptocurrencies continue to gain traction, investors are increasingly looking at next-generation blockchain platforms like Solana and XRP. SLON and UXRP offer investors the ability to access leveraged exposure to these networks, overcoming the typical challenges associated with such positions.”

ProShares’ History of Crypto ETF Innovation

ProShares is no stranger to groundbreaking crypto-linked ETF products. Its notable milestones include:

• BITO: The first Bitcoin-linked ETF in the U.S. (launched October 2021)

• BITI: The first inverse Bitcoin ETF

• EETH: The first ETF tracking Ether’s performance

• SETH: The first short Ether ETF

With these additions, ProShares now offers the largest lineup of crypto-related ETFs in the U.S., including 12 ETFs and three ProFunds mutual funds. The firm manages over $1.5 billion in assets across these products.

SLON and UXRP Do Not Hold Crypto Directly

It’s important to note that neither SLON nor UXRP holds Solana or XRP directly. Instead, they use derivative instruments to track the price movements of these digital assets. This allows ProShares to offer exposure while avoiding the complexities of custody and regulation involved in holding the cryptocurrencies themselves.

What This Means for Investors

Leveraged ETFs such as SLON and UXRP are designed for short-term trading strategies. While they offer the potential for high returns, they also carry significant risk, especially in volatile markets. These products are best suited for traders with a deep understanding of crypto price dynamics and leverage mechanics.

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Global cryptocurrency investment products maintained 11 consecutive weeks of positive inflows, with $2.7 billion added in the most recent week. This brings the total year-to-date inflow to $17.8 billion, with a remarkable $16.9 billion flowing in over just the last 11 weeks. That accounts for nearly 95% of all inflows recorded since January.

Bitcoin Dominates with 84% of Total Inflows

Bitcoin-linked investment products continued to lead the market, attracting $14.9 billion in inflows during H1 2025. This represents nearly 84% of all crypto ETP gains in the period.

Last week followed the same trend, with Bitcoin ETPs bringing in $2.2 billion — roughly 83% of the weekly total. Ethereum (ETH) products came next, securing $429 million in inflows for the week and $2.9 billion overall in the first six months, accounting for 16.3% of the total.

XRP ranked third in both weekly and year-to-date inflows, adding $10.6 million last week and reaching $219 million for the year. This performance is notable as the U.S. continues to await regulatory approval for spot XRP ETFs, while Canada launched its own on June 18.

BlackRock Captures 96% of Crypto ETF Inflows

Just as Bitcoin dominates the asset class, BlackRock stands out among ETF issuers. The firm saw over $17 billion in inflows across its crypto products in H1 2025, representing 96% of the market share.

ProShares followed with $526 million and Fidelity with $246 million in inflows. Meanwhile, major competitor Grayscale recorded nearly $1.7 billion in net outflows during the same period.

These inflow statistics came as Bitcoin experienced a mild pullback below $108,000 earlier in the week. Last week, BTC surged from around $101,000 to a high of $107,800, demonstrating continued bullish momentum.

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Fast and Transparent Payments with XRP 

Wellgistics is reducing transaction times to seconds with its XRP payment infrastructure. Payments that traditionally took days are now completed instantly. This approach lowers costs and provides liquidity to independent pharmacies and suppliers. Chief Financial Officer Mark DiSiena notes that XRP offers more efficient operations compared to competitors. 

Blockchain Revolution in Healthcare 

Blockchain technology brings trust and speed to the healthcare sector. By adopting XRP for its payment infrastructure, Wellgistics aims to lead the industry. This innovation simplifies transactions by eliminating intermediaries. Additionally, XRP’s low transaction fees boost the company’s profitability. Wellgistics Health CEO Brian Norton says: 

“I believe the winners in the future of healthcare will not be the companies with the largest buildings, but those with the fastest infrastructure, the cleanest data, and the most efficient platforms. We are investing in infrastructure, not stagnation.” 

Wellgistics’ Strategic XRP Move 

Wellgistics Health is using XRP not only as a payment tool but also as a reserve asset. This strategy provides financial flexibility and protection against market volatility. XRP’s fast transaction capacity enables Wellgistics to offer seamless payment flows in its global supply chain. This step accelerates the institutional adoption of cryptocurrencies in the healthcare sector. 

Ripple’s Rising Popularity 

Ripple is gaining attention in global payment systems with XRP. Wellgistics’ move strengthens XRP’s institutional use. Meanwhile, analysts indicate that XRP is on the rise with ETF approvals and institutional investments. For instance, ProShares’ approval for XRP futures ETFs by the SEC is increasing investor interest. Wellgistics’ adoption of XRP proves that cryptocurrencies are finding a place in mainstream finance. Moreover, the token’s use in the healthcare sector could set an example for other companies. Ultimately, this development could enhance XRP’s value and use cases. 

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The COIN purchases came in two tranches: $13.3 million on April 4 and $13.2 million on April 7. However, ARK also sold $12 million of its ARKB holdings via its Next Generation Internet ETF (ARKW) on April 7.

ARKW Still Offers $142M in Indirect Bitcoin Exposure!

The April 7 ARKB sale marked one of ARK’s largest daily dumps of the ETF this year. The firm had previously sold $8 million in March, $8.6 million in February, and $3.5 million in January.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Despite the latest sell-off, ARKW still holds $142 million in ARKB, representing 11% of the fund’s total weight — keeping significant indirect exposure to Bitcoin intact.

Bitcoin ETFs Bleed Amid Market Panic

The broader Bitcoin ETF market took a hit following Trump’s tariffs. Bitcoin dropped 11% to $74,700. Data shows that global Bitcoin ETPs saw $207 million in outflows between April 1 and 7, with an additional $109 million leaving the market on April 7 alone.

Across the last three trading days, Bitcoin ETFs lost a combined $273 million, per SoSoValue. Still, ARK remains among the few spot Bitcoin ETF issuers with net positive flows in 2025, totaling $146 million by April 4.

Other notable inflows came from BlackRock’s iShares ($3.2B) and ProShares ($398M), according to CoinShares.

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Bitcoin ETPs Turn Negative for the Month

Bitcoin (BTC) ETPs led the decline, with $207 million pulled in just one week. This resulted in a monthly net outflow of $138 million, the first negative monthly total in 2025. Despite that, BTC ETPs still hold $1.3 billion in year-to-date inflows.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Ethereum (ETH) ETPs faced $38 million in weekly outflows. However, they continue to maintain $279 million in net inflows for the year.

Grayscale Tops YTD Outflows

Grayscale Investments led all ETP providers with $95 million in weekly outflows. Its YTD total stands at $1.4 billion, the largest among all issuers.

In contrast, BlackRock’s iShares ETFs retained $3.2 billion in year-to-date inflows. ProShares and ARK Invest are the only two other major issuers still in the green, with $398 million and $146 million respectively.

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CoinShares reports that global crypto funds managed by asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares recorded $901 million in net inflows last week. In October alone, crypto investment products saw over $3.36 billion in inflows, representing 12% of assets under management and marking the fourth-largest monthly inflow on record. Year-to-date, these inflows have reached $27 billion, nearly tripling the 2021 record of $10.5 billion.

Bitcoin-based funds remain dominant, achieving $920 million in weekly net inflows globally. Meanwhile, short Bitcoin funds saw modest net outflows of $1.3 million. Blockchain equity funds and Solana products recorded weekly inflows of $12.2 million and $10.8 million, respectively. Conversely, Ethereum-based funds experienced a $34.7 million weekly net outflow, with the ETH/BTC ratio dropping 2.33% to its lowest level since April 2021.

U.S. Elections and Polls Boosting Crypto Inflows

“We believe the current levels of Bitcoin prices and inflows are largely influenced by U.S. politics; the recent inflow increase is likely linked to Republicans gaining ground in polls,” said CoinShares Head of Research James Butterfill.

According to the decentralized prediction platform Polymarket, crypto-friendly Republican candidate Donald Trump leads Democrat Kamala Harris in the November 5 presidential election, with a probability of 66.5% to 33.4%. The former President is also ahead in six key states, and Polymarket data indicates that Republicans have an 84% chance of winning the Senate, a 52% chance in the House, and a 48% chance of sweeping both chambers, while Democrats hold a 12% chance. Last week, Polymarket denied any evidence of market manipulation on election betting markets.

Nevertheless, the latest national poll averages suggest the race remains close; according to FiveThirtyEight, Harris leads Trump by 48.1% to 46.7%, within the margin of error. However, the gap in national polls has narrowed since Harris’ peak lead of 3.7% on August 23, with analysts at Bernstein noting that traditional polls have historically underestimated Trump.

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The SEC said in a June 10 filing that the New York Stock Exchange (NYSE) Arca had requested a rule change letting it list and trade ProShares Ethereum ETF shares. Following publication in the Federal Register, the commission stated it was seeking public comments on the ETF application for twenty-one days, giving the SEC forty-five days to approve, reject, or extend the timeframe for its decision.

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Officially approving 19b-4 files from eight asset management companies applying to list and trade Ether ETFs on U.S. exchanges for the first time on May 23, the SEC Before they can formally start trading, the SEC must sign off on S-1 registration statements for the spot Ether ETFs; this process might take months, although some analysts predict it will go through sometime in July.

“Instinct initially says (ProShares ETF) won’t launch on day 1 with the other ETFs whenever that is, but who knows?” stated ETF expert James Seyffart in a June 10 X post. “This is fascinating.”

ProShares was among the first asset managers approved by the SEC in October 2023 to list and trade shares of a spot investment vehicle linked to ETH futures. Additionally, under the symbol BITO, the business provides a Bitcoin Strategy ETF on NYSE Arca.

Following its initial clearance, it is unknown if the SEC will approve ProShares’ spot Ether ETF offering. The file just indicated the commission would review the application.

The post ProShares Spot Ether ETF Application Under SEC Review appeared first on Coin Engineer.

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Click here to access the SEC content.

The names of the funds applied are as follows:

• ProShares Plus Bitcoin ETF
• ProShares Ultra Bitcoin ETF
• ProShares UltraShort Bitcoin ETF
• ProShares Short Bitcoin ETF
• ProShares ShortPlus Bitcoin ETF

One of these 5 funds is explained as follows:

Seeks daily investment results that correspond to two times (2x) the daily performance of the Bloomberg Galaxy Bitcoin Index, before fees and expenses. Two of the funds do not invest directly in bitcoin, and three do not directly short bitcoin.

The approval of 11 spot bitcoin ETFs on January 11th by the Securities and Exchange Commission (SEC), including ProShares, gave rise to billions of dollars in trading volume. The application came a few days after this approval.

Investment advisor and president of The ETF Store, Nate Geraci, posted a post via X. In the content of the post, he commented on the application and said the following:

Vanguard definitely won’t have these on their platforms.

ProShares files for leveraged & inverse bitcoin ETFs…

+1.5X, +2X, -1X, -1.5X, and -2X

Quickly getting wild.

Vanguard definitely won't have these on their platform. pic.twitter.com/8unjgNfSVZ

— Nate Geraci (@NateGeraci) January 16, 2024

Vanguard said it would not offer spot Bitcoin ETFs on its brokerage platform, expressing concerns about Bitcoin’s high volatility.

Other Companies Also Moving in Parallel to Spot Bitcoin (ProShares)

The New York Stock Exchange filed a 19b-4 application to allow the listing and trading of options on “Equity-Based Trust Securities”.

Bloomberg Intelligence senior ETF analyst Eric Balchunas said the application was to be able to list options on spot bitcoin ETFs.

Grayscale Investments filed for a closed-end call ETF that aims to generate income from a position in the GBTC that was converted last week.

The post ProShares: Inverse Bitcoin ETF appeared first on Coin Engineer.

Similar to other cryptocurrency ETFs, the new product links to Ethereum futures contracts, not the token’s spot price. We are all waiting for the green light from the U.S. Securities and Exchange Commission to detect and accept Bitcoin ETFs.

ProShares introduced its first Ether ETF as part of a group that launched three of the nine new tools in early October. The ProShares Ether Strategy ETF offers only access to Ether; the other two combine exposure to Ethereum and Bitcoin.

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Did the ETF Meet Expectations?

The largest of the new ether futures ETFs, with assets under $10 million, shows that the initial release has not met expectations. The ProShares Bitcoin Strategy ETF, on the other hand, had a very modest start compared to pulling in about $1 billion in assets in the early days. ProShares CEO Michael Sapir stressed that they designed the reverse Ether ETF to tackle the problem of a burdensome and costly process when taking a short position.

The head of industry and industry research at VettaFi, Roxana Islam, stated that while the market is awaiting the final SEC approval of spot-based crypto ETFs, the launch of ProShares’s inverse ether product was a right move. “Such a reverse strategy cannot be easily replaced or substituted with a spot product.” she says.

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