Volatility Shares Files for 3 XRP ETFs

Volatility Shares, an asset manager renowned for introducing innovative exchange-traded funds (ETFs), has submitted requests for three new products centered on XRP.

These offerings comprise a spot XRP ETF, a 2x leveraged XRP ETF, and an inverse -1x XRP ETF. The spot XRP ETF is structured to mirror the price of the cryptocurrency directly, while the 2x XRP ETF seeks to magnify daily price fluctuations by a factor of two. On the other hand, the -1x XRP ETF provides investors with an avenue to speculate against XRP’s price, mirroring the inverse of its daily performance.

This recent development aligns with growing anticipation for regulatory endorsement of a spot XRP ETF. Traders on Polymarket are currently assessing a 77% likelihood of approval for a spot XRP ETF this year. However, the perceived chances of approval before July 31 stand at a lower 35%.

Volatility Shares’ submissions position it alongside several other asset managers vying to introduce XRP ETFs in the United States, such as Grayscale, WisdomTree, Bitwise, 21Shares, CoinShares, and Canary Capital.

Last month, the U.S. Securities and Exchange Commission (SEC) initiated its review process for deciding on an XRP ETF filing by acknowledging a 19b-4 filing by the New York Stock Exchange and Grayscale. Notably, the world’s inaugural spot XRP ETF is poised to launch in Brazil shortly after securing approval from the country’s securities regulator.