Tidal Trust II files for leveraged ETF launch for XRP and Solana

Tidal Trust II has filed with the SEC to launch two new ETF funds that provide long-term exposure to XRP and Solana at leverage ratios ranging from 150% to 200%. The filing was announced on August 19, indicating that the fund will use derivative instruments such as swaps, options, and futures contracts to amplify returns while applying an options-based strategy to mitigate risks.

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

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