XRP ETF Race Heats Up as Volatility Shares Files for Three New Funds

Volatility Shares, an asset manager known for innovative ETFs, has filed for three XRP-focused exchange-traded funds: a spot XRP ETF, a 2x leveraged XRP ETF, and an inverse -1x XRP ETF.

The spot XRP ETF is designed to track XRP’s market price, while the leveraged version amplifies daily price movements by 2x. The inverse ETF offers traders a way to short XRP, mirroring its daily performance in reverse.

This move adds to growing anticipation for regulatory approval of an XRP ETF in the U.S. Currently, traders on Polymarket estimate a 77% chance of approval this year, though the likelihood of approval before July 31 stands at 35%.

Volatility Shares joins a competitive field of asset managers—including Grayscale, WisdomTree, Bitwise, 21Shares, CoinShares, and Canary Capital—seeking to launch XRP ETFs in the U.S. Meanwhile, Brazil is set to debut the world’s first spot XRP ETF following regulatory approval from its securities watchdog.

The U.S. Securities and Exchange Commission (SEC) recently acknowledged a 19b-4 filing by the New York Stock Exchange and Grayscale, signaling progress in the approval process.

With increasing institutional interest and regulatory developments, XRP ETFs could soon become a reality, offering investors new ways to gain exposure to the cryptocurrency market.