coindesk.com
Volatility Shares, an asset manager known for launching innovative exchange-traded funds (ETFs), has filed for three new products centered on $XRP. These include a spot $XRP ETF, a 2x leveraged $XRP ETF and an inverse -1x $XRP ETF.
The spot $XRP ETF is designed to track the price of the cryptocurrency directly, while the 2x $XRP ETF aims to amplify daily price movements by a factor of two. The -1x $XRP ETF offers investors a way to bet against $XRP’s price, reflecting the reverse of its daily performance.
This latest move comes as expectations rise for regulatory approval of a spot $XRP ETF. Traders on Polymarket are currently weighing a 77% chance that a spot $XRP ETF will receive approval this year. However, the perceived odds of approval before July 31 are lower, at 35%.
Volatility Shares’ filings see it join various other asset managers looking to launch $XRP ETFs in the United States, including Grayscale, WisdomTree, Bitwise, 21Shares, CoinShares and Canary Capital.
Last month, the U.S. Securities and Exchange Commission (SEC) kicked off its clock for making a decision on one $XRP ETF filing by acknowledging a 19b-4 filing by the New York Stock Exchange and Grayscale. The world’s first spot $XRP ETF, however, is set to soon debut in Brazil after being approved by the country’s securities regulator.