New XRP ETF Filing With SEC Emerges From The Shadows With An Interesting Twist

A surprising development has drawn attention within the XRP community as a new exchange-traded fund proposal centered around the cryptocurrency quietly ￰0￱ filing, which was submitted to the US SEC by GraniteShares, outlines a plan for a 3× leveraged XRP ETF that’s designed to amplify the altcoin’s daily ￰1￱ the fund is not the Spot XRP ETF that many investors have been waiting for, its sudden appearance is a big step toward institutional recognition of the token in the ￰2￱ Proposes 3× Leveraged XRP ETF According to documents filed with the SEC, GraniteShares is proposing to list a 3× leveraged XRP ETF to provide investors with triple the daily returns of spot ￰3￱ essence, if the altcoin rises by one percent in a day, the ETF would seek to rise by approximately three percent, and vice versa for ￰4￱ kind of leveraged exposure is commonly favored by short-term traders looking to take advantage of intraday price movements rather than long-term ￰5￱ GraniteShares filing also revealed plans for other similar leveraged products tied to other major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).

The proposed product stands out, however, because it is one of the first attempts to introduce such a leveraged fund for XRP after the token’s regulatory clarity was established in the United ￰6￱ funds reset daily, and the fact that an issuer like GraniteShares is seeking approval for an XRP-related ETF reinforces that the token is slowly making its way back into Wall Street’s ￰7￱ all goes well, these ETFs are going to be on track to be launched in December ￰8￱ will join the list of ETFs like ProShares Ultra XRP ETF, Teucrium, and Volatility Shares, which offer 2x daily exposure through futures ￰9￱ Altcoin Needs Good News Like This The token’s price action has been relatively muted in the past week and it has underperformed compared to Bitcoin and ￰10￱ on-chain data shows that negative sentiment toward the asset has climbed to a six-month high , and this is a reflection of the frustration among traders over its sluggish performance compared to other top cryptocurrencies.

XRP’s behavior can be attributed to the absence of events capable of contributing to ￰11￱ and Ethereum, for example, have benefited from strong institutional inflows in the past week.. The newly surfaced ETF filing from GraniteShares, therefore, comes at an important time, as it provides much-needed bullish momentum and hints that major financial players are still willing to explore products related to the ￰12￱ leveraged ETF proposal, while encouraging, does not carry the same weight as Spot ￰13￱ around the token over the past few months have been centered around the ongoing delay in its Spot ETF ￰14￱ analysts have pointed out that such a milestone would serve as the base for the altcoin’s next extended breakout.

However, these spot ETFs are currently stuck due to the US government’s ongoing ￰15￱ the time of writing, XRP is trading at $2.83, down by 1% in the past 24 hours.