GraniteShares Eyes April 23 Launch for 3x Leveraged XRP ETFs on NASDAQ

Key Insights

• GraniteShares targets April 23, 2026, launch of 3x Long and 3x Short Daily XRP ETFs on NASDAQ.
• Funds aim to deliver 300% daily price moves in XRP using derivatives, not spot holdings.
• Daily reset structure introduces volatility decay, increasing risk for long-term holders.

GraniteShares plans to launch two leveraged XRP exchange-traded funds on NASDAQ on April 23, 2026, targeting active traders seeking amplified exposure. The products aim to track three times the daily price movement of XRP using derivatives rather than direct token holdings.

The launch follows rising institutional interest in XRP-linked investment products, with over $1.24 billion flowing into spot XRP ETFs since late 2025. However, the structure of leveraged ETFs introduces higher risk, especially for investors holding positions beyond a single trading session.

GraniteShares XRP ETFs Filing Timeline and Structure

GraniteShares filed a post-effective amendment to its Form N-1A registration statement with the U.S. Securities and Exchange Commission in mid-April 2026. The filing builds on an earlier 2025 registration covering multiple leveraged crypto exchange-traded products.

Source: X

The proposed funds include the GraniteShares 3x Long XRP Daily ETF and the GraniteShares 3x Short XRP Daily ETF. Both products are designed to track XRP price performance on a daily basis rather than over extended periods.

The effective date shifted several times, moving from early April to the current April 23 target. The adjustment follows Rule 485 under the Securities Act of 1933, which allows issuers to revise timelines without restarting the full approval process.

GraniteShares Advisors LLC will serve as the investment adviser. Jeff Klearman and Ryan Dofflemeyer will manage the portfolios. The XRP ETFs will join GraniteShares’ broader lineup of leveraged crypto funds tied to Bitcoin, Ether, and Solana.

GraniteShares’ XRP ETFs SEC Filing and Development Timeline

GraniteShares filed a post-effective amendment to its Form N-1A registration statement with the U.S. Securities and Exchange Commission. The latest amendment was submitted around mid-April 2026. The original registration dates back to 2025 and covers several leveraged crypto products.

Also, the effective dates for these XRP ETFs have been shifted multiple times. It moved from early April dates to the current target of April 23. The change follows Rule 485 of the Securities Act of 1933. This rule allows issuers to adjust the effective date without restarting the full process.

GraniteShares Advisors LLC will act as the investment adviser. Jeff Klearman and Ryan Dofflemeyer serve as portfolio managers. The funds form part of a broader suite that includes leveraged products for Bitcoin, Ether, and Solana.

How the Leveraged XRP ETFs Work

The 3x Long XRP ETF seeks to deliver 300% of XRP’s daily price performance. If XRP rises 1 percent in a day, the fund aims for a 3 percent gain before fees. The 3x Short XRP Daily ETF targets the opposite. It seeks a negative 300 percent of the daily move.

A 1 percent drop in XRP would aim for a 3 percent gain in the short fund. These are daily target products. They reset every trading day. Over longer periods, returns can differ from three times the total move due to compounding and volatility.

The funds are designed only for short-term trading by active investors. They carry a high risk. Losses can be large and quick in volatile markets. Investors should read the prospectus carefully for details on fees, risks, and decay effects.

Market Context and Investor Warnings

Spot XRP ETFs have seen more than $1.24 billion in inflows since their launch in late 2025. This shows growing institutional interest in regulated XRP products. GraniteShares already offers other leveraged ETFs.

The new XRP pair expands options for traders who want to bet on price direction without holding the crypto directly. The products will trade in traditional brokerage accounts. They may increase liquidity and trading volume around XRP.

However, experts remind investors that leveraged ETFs are not for buy-and-hold strategies. Daily resets can erode performance over time in sideways or choppy markets. Potential investors should consider their risk tolerance. These funds suit experienced traders only.

As of April 22, 2026, the launch remains on target but could still face minor adjustments. Final trading details will appear on the NASDAQ and GraniteShares website once live.

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