Volatility Shares Files for XRP ETFs as XRP Stocks Surge on Approval Hopes

Volatility Shares, a prominent asset manager known for its innovative exchange-traded funds (ETFs), has recently filed for three new ETFs focused on XRP. These include a spot XRP ETF, a 2x leveraged XRP ETF, and an inverse -1x XRP ETF. The spot XRP ETF is designed to track the price of the cryptocurrency directly, while the 2x XRP ETF aims to amplify daily price movements by a factor of two. The -1x XRP ETF offers investors a way to bet against XRP’s price, reflecting the reverse of its daily performance.

This move comes as expectations rise for regulatory approval of a spot XRP ETF. Traders are currently weighing a 77% chance that a spot XRP ETF will receive approval this year. However, the perceived odds of approval before July 31 are lower, at 35%. Volatility Shares’ filings see it join 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) kicked off its clock for making a decision on one XRP ETF filing by acknowledging a 19b-4 filing by the New York Stock Exchange and Grayscale. The world’s first spot XRP ETF, however, is set to soon debut in Brazil after being approved by the country’s securities regulator.

Asset manager Volatility Shares has recently filed for three XRP exchange-traded funds (ETFs), marking a significant development in the cryptocurrency investment landscape. The three ETFs include the XRP ETF, 2x XRP ETF, and -1x XRP ETF. These filings indicate a growing interest in XRP and the potential for increased investment opportunities in the cryptocurrency market.

The XRP ETF is designed to track the performance of XRP, providing investors with a straightforward way to gain exposure to the cryptocurrency. The 2x XRP ETF and -1x XRP ETF offer leveraged and inverse leveraged exposure, respectively, allowing investors to amplify their gains or hedge against potential losses. These ETFs will use XRP futures contracts to achieve their investment objectives,