Chiara Bianchi
Leveraged ETFs tied to Solana and XRP futures are gaining remarkable traction, attracting nearly $3 billion in assets as investors eagerly await the U.S. Securities and Exchange Commissionโs (SEC) decision on spot ETF approvals. This surge signals growing institutional confidence and appetite for alternative crypto investment products beyond Bitcoin and Ethereum.
The recent momentum stems from the introduction of new leveraged ETFs, a sharp rise in derivatives positioning, and strong demand for yield-focused investment vehicles. Early 2025 witnessed a market catalyst when a leak revealed CME Groupโs plans to list futures contracts for Solana and XRP. This news triggered an immediate 3% price increase, setting the foundation for the launch of regulated institutional products based on futures.
By mid-May, XRP futuresโ open interest experienced a dramatic increaseโjumping by approximately $1 billion in a single week from $2.4 billion to $3.4 billion, alongside a price rise from $2.10 to $2.45. This uptick occurred amid growing speculation that the SEC might approve a spot XRP ETF by midyear, prompting strategic positioning among investors.
ProShares Launches Leveraged ETFs with NYSE Arca Nod
In July, ProShares expanded the market with the debut of leveraged futures ETFs for both Solana and XRP, receiving green light from NYSE Arca. The Ultra Solana ETF (SLON) and Ultra XRP ETF (UXRP) are designed to deliver twice the daily performance of CME-regulated futures, without directly holding the underlying digital tokens. These products enrich the growing variety of altcoin ETFs, which continue to gain traction despite Bitcoin and Ethereum dominance.
Yield-Oriented ETFs Draw Investor Demand
Adding to this trend, the REX-Osprey Solana Staking ETF (SSK) launched in early July stood out by combining spot exposure with staking rewards. The ETF reported $33 million in trading volume on day one and attracted $12 million in inflows, outperforming many futures-only ETFs at their launch. This yield-generating structure appeals to investors focused on income within the crypto asset class.
ETF data from early July highlights that Solana-linked ETFs attracted $20 million in inflows, while XRP ETFs brought in $10 million, contributing to an unprecedented $189 billion total crypto ETF assets under management. XRP futures funds, in particular, have seen accelerated growth in this climate.
What This Means for the Crypto ETF Landscape
While futures-based ETFs differ fundamentally from spot ETFs in terms of exposure and risk, their rising asset base and trading volume underscore increased market depth and liquidity for Solana and XRP. Historically, liquid futures markets have often preceded spot ETF approvals by regulators, offering valuable transparency and risk management data.
However, investors should be aware that leveraged and futures strategies carry risks like daily compounding effects and contract roll costs, which can increase volatility and create performance deviations compared to spot markets.
Looking Ahead: Positioning for Regulatory Changes
The combination of heightened futures activity, robust ETF inflows, and innovative yield structures has propelled Solana and XRP to a stronger foothold in regulated investment spaces. The current milestone of $3 billion in futures-based ETF assets highlights the significant capital flowing in anticipation of potential regulatory shifts that could open new doors for crypto asset investment.
