Investor appetite for XRP is broadening as traders look for new ways to increase exposure beyond spot holdings.
The rise of XRP-focused leveraged exchange-traded funds (ETFs) illustrates this trend and reveals how participants are complementing traditional accumulation with higher-risk, higher-reward strategies.
Leveraged XRP ETFs
On October 7, GraniteShares, a leading ETP issuer, filed to launch two XRP-based leveraged funds, including the GraniteShares 3x Long XRP Daily ETF and the GraniteShares 3x Short XRP Daily ETF. The company also filed for leveraged products focused on Bitcoin, Ethereum, and Solana.
These funds aim to triple daily XRP gains or losses, providing traders with a regulated and liquid means to adjust exposure without relying on perpetual futures markets.
Its entry follows the success of Teucrium’s XXRP ETF, which recently surpassed $400 million in total net assets within six months of its debut.
Similarly, the ProShares Ultra XRP ETF (UXRP), designed to deliver twice the daily return of
Collectively, these leveraged ETFs now manage more than $500 million, an impressive figure for funds launched less than a year ago and ahead of any approved spot counterpart.
While leveraged ETFs carry inherent risks, such as falling volatility due to daily resets, their rapid growth underscores the unmet demand for flexible, regulated tools that connect the speculative energy of cryptocurrencies with traditional financial infrastructure.
Considering this, Jeff Park, advisor at asset management firm Bitwise, explained that:
“He [is] It’s intuitive to understand the impact leveraged ETFs have on a stock. Its constant leverage target effectively creates a buy high, sell low trading pattern as the underlying price fluctuates. In essence, they are reflexively long on autocorrelation.”
Growth of XRP derivatives
Meanwhile, this rise in XRP leveraged products parallels a broader rise in digital asset derivatives activity.
Data from Coinglass shows that open interest in XRP futures has risen to approximately $9 billion, with average volumes remaining above $7 billion since early October.
The data indicates that both institutional and speculative capital are expanding their exposure through multiple channels rather than moving away from spot markets. The growing demand is evidence of a maturing market structure.
Spot accumulation anchors long-term investor confidence, while leveraged ETFs serve short-term tactical positioning ahead of potential catalysts such as spot ETF approvals once regulatory reviews resume following the US government shutdown.
Overall, XRP market developments now reflect multiple layers of participation from spot holders, futures traders, and leveraged ETF investors. Together, these groups are shaping a more liquid and diversified ecosystem where market depth and breadth of participation matter as much as the speculative activities of years past.
