According to CoinDesk, Volatility Shares, an asset manager recognized for its innovative exchange-traded funds (ETFs), has submitted filings for three new XRP-focused products. These include a spot XRP ETF, a 2x leveraged XRP ETF, and an inverse -1x XRP ETF. The spot XRP ETF is intended to directly track the cryptocurrency's price, while the 2x leveraged ETF seeks to amplify daily price movements by a factor of two. Conversely, the inverse -1x ETF provides investors with an opportunity to bet against XRP’s price, mirroring the reverse of its daily performance.
This development comes amid growing anticipation for regulatory approval of a spot XRP ETF. Traders on Polymarket are currently assessing a 77% probability that a spot XRP ETF will gain approval within this year. However, the likelihood of approval before July 31 is perceived to be lower, standing at 35%. Volatility Shares' filings position it alongside several other asset managers aiming to introduce XRP ETFs in the United States, including Grayscale, WisdomTree, Bitwise, 21Shares, CoinShares, and Canary Capital.
In recent developments, the U.S. Securities and Exchange Commission (SEC) has initiated its review process for an XRP ETF filing by acknowledging a 19b-4 submission from the New York Stock Exchange and Grayscale. Meanwhile, the world's first spot XRP ETF is poised to launch in Brazil following approval from the country's securities regulator. This marks a significant step in the global expansion of XRP ETFs, reflecting the increasing interest and potential for these financial products in various markets.
