A new filing has surfaced in the United States for an exchange-linked fund (ETF) tied to XRP, even as the cryptocurrency’s price continues to fall. The filing, filed by Graniteshares, seeks approval for leveraged XRP ETFs that provide 3x long and 3x short exposure to the token’s price.
Graniteshares already offers similar leveraged products for Bitcoin, Ethereum and Solana. The move signals that institutional interest in XRP exposure remains alive, even as regulatory uncertainty and price weakness persist.
Market slump overshadows ETF optimism
At the time of writing, XRP has fallen below $2.90 and moved into the fifth largest cryptocurrency by market cap.
Many expected October to be a milestone month for XRP, with excitement surrounding ETF approvals and the end of a long regulatory battle. However, the US government shutdown has temporarily paused the Securities and Exchange Commission (SEC) approval process for all new ETFs, delaying key decisions and raising investor excitement.
Lawyer’s Take: ‘Any reason to panic‘
Responding to the Graniteshares filing, attorney and XRP supporter Bill Morgan offered a sarcastic take on the market’s reaction, saying, “I will continue to buy XRP in light of this terrible He added that the filing itself cements XRP’s place among the top four cryptocurrencies – alongside Bitcoin, Ethereum and Solana, excluding stableCoins and exchange tokens.
Uncertain path ahead for XRP ETFs
The ETF proposal comes at a time of frustration among XRP holders. Recent administrative delays, coupled with the introduction of new filing standards by the SEC, have effectively reset previous approval timelines. Many proposals, including those related to Litecoin and Solana, are now facing indefinite extensions.
Still, the Graniteshares filing keeps XRP in the institutional spotlight. Despite market turbulence and stalled approvals, the continued push for leveraged XRP ETFs means major players continue to see value in the asset’s future performance.
Trust Coinpedia:
Coinpedia has been providing accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict editorial guidelines based on EEAT (experience, expertise, authoritativeness, reliability). Each article is checked against reputable sources to ensure accuracy, transparency and reliability. Our review policy ensures unbiased evaluations when recommending exchanges, platforms or tools. We aim to provide timely updates on everything Crypto & Blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making any investment decisions. Neither the writer nor the publication takes responsibility for your financial choices.
Sponsored and Ads:
Sponsored content and affiliate links may appear on our site. Ads are clearly marked and our editorial content remains completely independent from our advertising partners.