Volatility Shares to Launch First 1x XRP Futures ETF in US

Volatility Shares is introducing the inaugural 1x XRP futures ETF in the US on May 22, 2025. The upcoming ETF will be called “XRPI” and will trade with the ticker symbol “XRPI.”

Bloomberg ETF analyst Eric Balchunas confirmed the launch on social media. “The existing 2x XRP ETF has $120 million in assets under management and trades around $35 million daily,” Balchunas noted on X.

The new 1x product is designed for investors who want to follow XRP futures with lower risk, unlike leveraged ETFs which tend to be unpredictable. The XRPI ETF will also be attractive to retail and institutional investors who want a lower-risk way to participate in XRP price action.

Balchunas confirms the launch | Source: X

While the XRPI ETF moves ahead, the U.S. Securities and Exchange Commission (SEC) has delayed decisions on two separate spot XRP ETF proposals. The applications, submitted by asset managers 21Shares and Franklin Templeton, are now expected to receive a response by June 17, 2025. Moveover, the Prediction platform Polymarket shows that more than 80% of traders believe a spot XRP ETF will be approved sometime in 2025.

XRP ETF chance of getting approved | Source: Polymarket

Meanwhile, demand for leveraged exposure remains high. The Teucrium 2x XRP ETF has gathered over $106 million in assets with more investors actively seeking XRP exposure through structured products.

The Chicago Mercantile Exchange (CME) has also joined in, launching cash-settled XRP futures contracts. These are benchmarked to the CME CF XRP-Dollar Reference Rate. On launch day, trading volume reached over $2.4 million, and later data from analyst Chad Steingraber showed the volume had climbed to $19 million.