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>>A new XRP exchange-traded fund application has been submitted to the SEC, featuring a unique element.

A new XRP exchange-traded fund application has been submitted to the SEC, featuring a unique element.

crypthub

4 days ago

New XRP ETF Proposal

GraniteShares has filed with the US SEC for a 3x leveraged XRP ETF, aiming to amplify the altcoin's daily performance. This proposal introduces a new avenue for XRP exposure, offering potential gains (or losses) amplified threefold. The ETF is not a spot XRP ETF, but its emergence signals progress towards institutional recognition. The filing also includes similar leveraged products tied to Bitcoin, Ethereum, and Solana.

Leveraged Exposure Explained

The proposed 3x leveraged XRP ETF is designed for short-term traders seeking to capitalize on intraday price movements. Daily performance resets, and gains or losses are tripled compared to spot XRP performance. This differs from traditional spot ETFs that are favored by long-term investors. The projected launch date is December 2025.

Market Context and Significance

The announcement arrives amidst a period of subdued XRP price action and negative market sentiment. The emergence of the ETF provides a much-needed boost and suggests continued interest from financial institutions. While not a Spot XRP ETF, it reinforces XRP’s gradual return to Wall Street’s attention.

Spot ETF Delay and Future Outlook

The arrival of a leveraged ETF doesn’t diminish the anticipation for a Spot XRP ETF, which is currently delayed due to government shutdowns. Many analysts believe a Spot ETF approval is crucial for XRP’s next significant breakout. The leveraged ETF joins a growing list of XRP-related products.