Tidal Trust II files for the launch of a leveraged ETF for XRP and Solana

Tidal Trust II has filed with the SEC to launch two new ETF funds providing long term exposure to XRP and Solana at a leverage ratio of 150% to 200%. The filing was published on August 19, showing that the fund will use derivative instruments such as swaps, options, and futures contracts to amplify returns, while also applying an options-based strategy to mitigate risk.

These ETFs do not hold XRP or SOL directly but invest in related products such as ETF XRP, SOL listed in the US. This move comes amid expectations that the SEC will approve more altcoin ETFs in October, as investor demand for structured crypto products continues to rise.

Currently, the ETF 2x Long Daily XRP (XXRP) has surpassed 400 million USD in assets, while the Solana staking ETF (SSK) has attracted over 160 million USD in less than two months since its launch.