ZyCrypto 2025-05-23 16:55:09

First US-Based XRP Futures ETF Goes Live On Nasdaq Despite Ripple vs SEC Settlement Snag

The first-ever exchange-traded fund (ETF) tracking XRP futures started trading in the U.S. on May 22. The Volatility Shares XRP ETF trades on the Nasdaq under the ticker XRPI and offers one-to-one exposure to XRP’s daily performance. According to a prospectus, the new fund will invest at least 80% of its assets in XRP futures contracts and shares of other XRP-linked ETPs via a wholly-owned Cayman Islands subsidiary. Volatility Shares also plans to launch a leveraged 2x XRP futures ETF, which is designed to deliver twice the daily performance of XRP through leveraged exposure to XRP futures. With the new offerings, Volatility Shares will join Vermont-based asset manager Teucrium Investment Advisors in offering leveraged exposure to the price of XRP without holding the asset directly. Earlier last month, Teucrium debuted the Teucrium 2x Long Daily XRP ETF (XXRP), aiming to offer returns double those of XRP’s daily movements. Bloomberg’s senior ETF analyst Eric Balchunas pointed out that the XXRP has managed to attract over $120 million in assets under management and averages $35 million in daily trading volume. Balchunas described it as a “good signal that there will be demand” for Volatility Shares’ XRPI. The news comes shortly after the CME Group rolled out XRP futures on its derivatives exchange, the largest in the U.S., which also lists BTC, ETH, and SOL products. Spot ETF And Legal Progress In Focus A bevy of issuers have filed with the U.S. Securities and Exchange Commission for spot XRP ETFs. Notably, the regulator has already delayed making decisions on proposals from several would-be issuers. Meanwhile, Judge Analisa Torres of the US District Court for the Southern District of New York recently rejected a joint Ripple-SEC motion seeking an indicative ruling on their proposed settlement. As ZyCrypto reported , Torres denied the motion as “procedurally improper” since the SEC and Ripple failed to file the correct procedural motion to support the proposed settlement deal. The SEC and Ripple agreed to reduce Ripple’s $125 million fine to $50 million just days before CEO Brad Garlinghouse announced the case was over. “The parties have made no effort to satisfy that burden here; their request does not even mention the Rule,” Judge Torres said at the time. While the rejection does not reverse Ripple’s victory in the long-standing case, it certainly adds further uncertainty regarding when the SEC could greenlight spot XRP products as the legal saga remains ongoing.

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