GraniteShares Targets May 7 for 3x XRP ETF Launch After Five Delays

• GraniteShares is now aiming for a May 7 launch of its 3x XRP ETFs after five delays from the initial April window.
• The proposed funds would offer daily 3x long and short XRP exposure through derivatives, not direct XRP holdings.

GraniteShares has set May 7, 2026, as the targeted effective date for its proposed 3x leveraged XRP exchange-traded funds, extending a launch process that has already faced five delays since early April. The latest amendment keeps the products under SEC review and shows that the planned Nasdaq debut has not yet reached final clearance.

The proposed products are the GraniteShares 3x Long XRP Daily ETF and the GraniteShares 3x Short XRP Daily ETF. Both funds will give traders leveraged exposure to XRP through regulated brokerage accounts once they launch. However, the new date marks another postponement rather than a confirmed approval or market debut.

Notably, the funds remain live in the registration process, but the delay keeps the spotlight on the SEC’s review of triple-leveraged crypto ETF structures. GraniteShares first targeted April 2 for the launch. The date was later moved to April 9, April 16, April 23, and now to May 7. 

Will GraniteShares’ XRP ETF Finally Launch?

The proposed XRP ETFs would not hold XRP directly. Instead, the funds would use derivatives, including swaps, futures, and options, to seek daily leveraged returns. The long product targets three times XRP’s daily price movement, while the short product targets three times the inverse of XRP’s daily move.

That structure makes the funds more useful for short-term trading. Over several sessions, daily leveraged ETFs may drift away from the asset’s actual move, especially during sharp price swings. Investors who hold such products beyond one trading day may face return decay during volatile markets.

GraniteShares’ proposal also covers leveraged products tied to Bitcoin, Ethereum, and Solana. The broader filing places XRP within a larger group of high-risk crypto-linked instruments under review. The SEC’s handling of the 3x format now matters for several assets, not only XRP.

The May 7 date follows earlier pressure on similar products. ProShares withdrew a similar 3x XRP product in December 2025 after running into regulatory setbacks. That move now adds useful context to the latest review as regulators continue to weigh whether triple-leveraged crypto ETFs meet existing investor protection standards.

Despite withdrawing the XRP product, ProShares later moved ahead with another crypto-linked fund. In February 2026, ProShares launched the GENIUS Money Market ETF under the ticker IQMM. The fund is built as a reserve vehicle for stablecoin issuers operating under the GENIUS Act.

XRP products have kept drawing institutional interest since their 2025 debut. A recent report named Goldman Sachs as the largest institutional holder of spot XRP ETFs, with about $153.8 million across four issuers.

The post GraniteShares Targets May 7 for 3x XRP ETF Launch After Five Delays appeared first on ETHNews.