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VolShares has made a bold move by filing for 5x leveraged exchange-traded funds (ETFs) tied to major cryptocurrencies, including Ethereum (ETH), Solana (SOL), and XRP, despite the U.S. Securities and Exchange Commission (SEC) halting new approvals due to the ongoing government shutdown. The filings also cover stock-based ETFs linked to major firms such as Nvidia, Tesla, and Coinbase, signaling VolShares’ aggressive expansion into both crypto and equity markets.
Bloomberg ETF analyst Eric Balchunas confirmed the filings on X (formerly Twitter), noting that while the SEC hasn’t approved even 3x crypto ETFs yet, VolShares is already aiming for 5x leverage. He suggested that the company could be exploiting procedural gaps that allow filings to proceed during the SEC’s inactivity. If the SEC remains unresponsive for 75 days, these filings could automatically become effective under U.S. securities laws.
This follows VolShares’ earlier launches, including the XRPI ETF — the first 1x XRP futures ETF in the U.S. — and the XRPT 2x ETF, which doubles XRP’s daily performance. The proposed 5x ETF would dramatically increase potential gains and losses, appealing mainly to professional traders seeking high-risk, short-term exposure.
Leveraged ETFs use borrowing and derivatives to amplify returns, resetting daily and making long-term performance unpredictable. Meanwhile, GraniteShares has also entered the race with filings for 3x leveraged long and short ETFs on major cryptocurrencies like XRP, offering traders multiple strategies for exposure.
Even as the SEC’s operations stall, issuers such as REX-Osprey, Grayscale, Bitwise, Franklin Templeton, and WisdomTree continue updating and submitting applications. Industry experts believe this surge of filings underscores growing confidence in regulatory progress. Once the SEC resumes activity, analysts predict a rapid wave of crypto ETF approvals that could reshape the digital asset investment landscape.
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