GraniteShares targets May 7 as the new effective date for the launch of its 3x leveraged XRP ETFs, after accumulating around five postponements since the initial date set in early April.
The firm had first set April 2, then April 9, 16 and 23, before shifting to the new target. The products remain under SEC review and have neither received final approval nor confirmed a debut on Nasdaq.
The proposed funds are the GraniteShares 3x Long XRP Daily ETF and the GraniteShares 3x Short XRP Daily ETF. Neither of them will hold direct exposure to XRP; instead, they will use derivatives such as swaps, futures and options to seek daily leveraged returns.
The long product aims to triple the asset’s daily move, while the short seeks to triple the inverse of that same move. That structure orients them toward short-term trading and can generate a progressive dispersion of returns over extended sessions, especially during periods of high volatility.
GraniteShares’ proposal also includes leveraged products linked to Bitcoin, Ethereum and Solana, which extends the scope of regulatory review to several assets simultaneously. The closest precedent is ProShares, which withdrew a similar 3x XRP product in December 2025 after failing to clear regulatory hurdles.
Source: https://www.sec.gov/Archives/edgar/data/1689873/000149315226018532/0001493152-26-018532-index.htm
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