The price of XRP and Solana Stocks soared Tuesday with the debut of REX Shares and another leveraged exchange-traded fund from Tuttle Capital Management aimed at boosting asset performance.
The T-REX 2X Long SOL Daily Target ETF and the T-REX 2X Long XRP Daily Target ETF have begun trading on the CBOE, REX and Mr. Tuttle said in a statement. press release, Joins a growing list of crypto-focused funds. ETFs, like many other products, offer 200% leveraged exposure to assets.
REX CEO Greg King said in a statement that ETFs are a way for traders to take advantage of short-term price movements within the familiar setting of a traditional brokerage account.
“By expanding access to leveraged crypto assets through an ETF wrapper, we are giving traders and investors a new way to act on their beliefs,” added Tuttle CEO Matt Tuttle.
Until recently, there were only a handful of ways for U.S. investors to gain leveraged exposure to cryptocurrencies, but REX and Tuttle said they now offer 33 other similar products, including products that track crypto-buying companies such as Bitmine Immersion Technologies and Strategy.
XRP has recently traded around $2.17, up 8.6% in the past day, according to the cryptocurrency data provider. CoinGecko. Meanwhile, Solana rose 12% to $139.56. Both assets have fallen in recent weeks as Bitcoin retreats from its all-time high in October.
Amid US President Donald Trump’s re-election last year, XRP and Solana were among the digital assets that experts thought could benefit from regulatory changes. This year saw the debut of several products dedicated to cryptocurrencies, as well as alternative currencies like Dogecoin.
While spot ETFs track the market price of an asset by owning the underlying asset itself, REX and Tuttle’s leveraged ETFs use financial derivatives to try to realize huge returns. Volatility Shares and ProShares also offer leveraged XRP and Solana ETFs.
For Canary Capital’s Spot XRP ETF debuted Last month, first-day trading volume reached $58 million. Currently showing exceeded Bitwise Solana Staking ETF debuted in October. BSOL allows investors to benefit from staking rewards.
Last week, investment products related to XRP and Solana received inflows worth $289 million and $4.4 million, respectively. data From asset management company CoinShares. Year-to-date, Solana products have generated $3.4 billion, compared to $2.9 billion for RippleLink tokens.
In Myriad’s prediction market, 95% of respondents do not expect Solana to reach its all-time high by the end of the year. Myriad is a division of Dastan, the parent company of editorially independent companies. decryption.
