ProShares Files for Solana and XRP Spot ETFs

ProShares has applied for Solana and XRP spot ETFs, targeting June 25, 2025, for launch pending SEC approval in the United States.

ProShares’ recent ETF filings signify potential advancement in the institutional adoption of digital assets, focusing on lesser-supported altcoins. The market awaits SEC’s decision, which could influence broader industry dynamics.

ProShares, a leader in the ETF sector, has filed for spot ETFs targeting Solana and XRP, set for June 25, 2025. This move follows its initial submission on January 17, 2025, with no public comments yet from ProShares’ leadership.

Michael L. Sapir, CEO, ProShares, “All updates are visible in public SEC filings and regulatory documents.”

No official statements have surfaced from ProShares CEO Michael L. Sapir or its executives regarding the filings. Franklin Templeton is also pursuing an XRP ETF, showing institutional interest in regulated crypto exposure, especially beyond Bitcoin and Ethereum.

Potential market effects

Possible impacts include increased asset liquidity and higher trading volumes if approvals materialize. The initiative could broaden traditional investor access to these tokens, stimulating growth in Solana’s DeFi protocols and XRP’s on-chain activity.

While the SEC review is ongoing, market participants express optimism. Approval of spot SOL and XRP ETFs is expected to boost access to these digital assets for traditional investors. Approval could set a precedent for additional altcoin ETFs, paving the way for clearer regulatory frameworks. Historical ETF trends suggest notable price and volume growth upon launch.

Institutional participation in ETFs for major cryptocurrencies like Bitcoin and Ethereum in the past triggered significant market inflows. Should Solana and XRP ETFs get approved, a similar trajectory with heightened investor interest and media coverage can be anticipated.