Volatility Shares Files for New XRP ETFs

Volatility Shares, an asset manager known for launching innovative exchange-traded funds (ETFs), has filed for three new products centered on XRP. These include a spot XRP ETF, a 2x leveraged XRP ETF, and an inverse -1x XRP ETF.

Product Descriptions

• Spot XRP ETF: Designed to track the price of the cryptocurrency directly.
• 2x XRP ETF: Aims to amplify daily price movements by a factor of two.
• -1x XRP ETF: Offers investors a way to bet against XRP’s price, reflecting the reverse of its daily performance.

This latest move comes as expectations rise for regulatory approval of a spot XRP ETF. Traders on Polymarket currently weigh a 77% chance that a spot XRP ETF will receive approval this year, though the odds of approval before July 31 are lower, at 35%.

Volatility Shares’ filings see it joining various other asset managers looking to launch XRP ETFs in the United States, including Grayscale, WisdomTree, Bitwise, 21Shares, CoinShares, and Canary Capital.

Last month, the U.S. Securities and Exchange Commission (SEC) began its decision-making process on one XRP ETF filing by acknowledging a 19b-4 filing by the New York Stock Exchange and Grayscale. Meanwhile, the world’s first spot XRP ETF is set to debut in Brazil after being approved by the country’s securities regulator.