Emerging Developments in the XRP Community: A New ETF Proposal
In a surprising twist, a new exchange-traded fund (ETF) proposal has quietly emerged within the XRP community, drawing significant attention. This development features a unique ETF centered on XRP, submitted to the U.S. Securities and Exchange Commission (SEC) by GraniteShares. The proposal outlines a plan for a 3× leveraged XRP ETF designed to magnify the altcoin’s daily performance.
GraniteShares Unveils Ambitious 3× Leveraged XRP ETF
GraniteShares has submitted documents to the SEC to propose the launch of a 3× leveraged XRP ETF. This innovative financial product aims to deliver investors triple the daily returns of XRP’s spot performance. Essentially, if XRP’s value increases by one percent in a single day, the ETF aims to amplify this gain to approximately three percent, and the same applies inversely for daily losses. Such leveraged exposure is typically favored by short-term traders seeking to capitalize on intraday price fluctuations rather than by long-term investors.
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The filing from GraniteShares also disclosed plans for similar leveraged products linked to other prominent cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). However, the XRP leveraged fund stands out, marking the first attempt to introduce such a product for XRP following its regulatory clarification in the U.S. These funds are reset daily, and the fact that a reputable issuer like GraniteShares is pursuing approval for an XRP-related ETF signals that the token is gradually regaining attention on Wall Street. If approved, these ETFs are projected to launch in December 2025, joining other ETFs like ProShares Ultra XRP ETF, Teucrium, and Volatility Shares, which offer 2x daily exposure via futures contracts.
A Glimmer of Hope for XRP Enthusiasts
Recently, XRP’s market performance has been somewhat lackluster, showing underperformance compared to the more dominant Bitcoin and Ethereum. On-chain data indicates a rise in negative sentiment towards XRP, reaching a peak not seen in six months. This sentiment reflects traders’ dissatisfaction with XRP’s sluggish performance relative to other leading cryptocurrencies.
The current state of XRP can be attributed to the absence of significant events that could restore investor confidence. In contrast, Bitcoin and Ethereum have benefited from strong institutional inflows in recent weeks. Thus, the emergence of the ETF filing by GraniteShares is timely, injecting a dose of optimism and suggesting that key financial players remain interested in exploring XRP-related products.
While the proposed leveraged ETF is promising, it does not hold the same significance as a Spot ETF. Recent discussions about XRP have largely focused on the prolonged delay in Spot ETF approvals. Analysts suggest that achieving this milestone would lay the groundwork for XRP’s next major breakout. However, the approval process for these Spot ETFs is currently stalled due to the ongoing U.S. government shutdown.
At present, XRP is trading at $2.83, reflecting a slight decline of 1% within the last 24 hours.
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