The launches coincided with price gains for both tokens, with XRP rising 8.6% to around $2.17 and Solana climbing 12% to $139.56 on Tuesday.
Solana and XRP News
REX Shares and Tuttle Capital Management debuted leveraged exchange-traded funds tracking XRP and Solana on Tuesday, expanding options for traders seeking magnified exposure to both cryptocurrencies through traditional brokerage accounts.
The T-REX 2X Long SOL Daily Target ETF and T-REX 2X Long XRP Daily Target ETF began trading on the CBOE, providing 200% leveraged exposure to the assets. REX CEO Greg King stated the ETFs offer traders new ways to capitalize on short-term price swings within the familiar setting of traditional brokerage accounts.
Tuttle CEO Matt Tuttle added that the products give traders and investors new ways to act on their conviction by expanding access to leveraged crypto assets through the ETF wrapper. The launches coincided with price gains for both tokens, with XRP rising 8.6% to around $2.17 and Solana climbing 12% to $139.56 on Tuesday.
REX and Tuttle now offer 33 similar products, including those tracking crypto-buying firms like BitMine Immersion Technologies and Strategy. The expansion marks a significant shift from just months ago, when U.S. investors had only a handful of ways to gain leveraged exposure to cryptocurrencies.
Spot ETFs track an asset's market price by holding the underlying asset itself, but leveraged ETFs seek to deliver outsized returns using financial derivatives. Volatility Shares and ProShares also offer leveraged XRP and Solana ETFs, creating competition in the emerging product category.
When Canary Capital's spot XRP ETF debuted last month, it generated $58 million in first-day trading volume, surpassing the debut of the Bitwise Solana Staking ETF in October. BSOL allows investors to benefit from staking rewards alongside price exposure.
Last week, investment products tied to XRP notched $289 million in inflows while Solana products drew $4.4 million, according to data from asset manager CoinShares. Year-to-date, Solana products have attracted $3.4 billion compared to $2.9 billion for the Ripple-linked token.
Both assets were hammered in recent weeks alongside $Bitcoin's retreat from record highs in October. Experts previously suggested XRP and Solana could benefit from regulatory shifts following President Donald Trump's re-election last year, with several products dedicated to the cryptocurrencies debuting this year alongside alternatives like Dogecoin.
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