ProShares Ultra Solana ETF(AMEX:SLON)

SLON is a bullish one-day bet on Solana, seeking to provide 2x the daily returns of its underlying Solana index. The index, maintained by Bloomberg Index Services, is designed as a proxy for the Solana market. The index price is a composite of USD Solana trading activities reported by digital asset trading platforms. The fund does not invest directly in Solana. It primarily buys cash-settled, front-month Solana futures, using a mathematical approach to obtain exposure to the index. It will roll the contracts monthly as they near expiration and replace them with new futures contracts with a later expiration date. The fund also holds money market instruments for necessary collateral. It gains leveraged exposure by utilizing a wholly owned Cayman Islands subsidiary. The returns of the fund can vary significantly from 2x exposure if held for longer than a day. As a geared product with daily resets, the fund is designed as a short-term trading tool and not a long-term investment vehicle.