VolatilityShares has announced the launch of the first standard XRP futures ETF, which will be listed under the ticker XRPI. This event has attracted attention from both analysts and investors.
Launch of the First XRP Futures ETF
The XRPI ETF, scheduled to launch on May 22, will track XRP futures, allowing investors to invest in XRP through futures contracts without the need to hold the cryptocurrency itself. According to Bloomberg analyst Eric Balchunas, this ETF is expected to gain traction given the success of the previous 2x XRP ETF.
ETF Market and Interest in XRP
While a 2x leveraged XRP product already exists, XRPI is anticipated with greater interest. Analysis shows that the 2x fund has already amassed $120 million in assets under management, confirming investor interest in XRP-related products. This could also enhance XRP’s perception among institutional investors and increase interest in the cryptocurrency itself.
XRP Market and Future Prospects
The development of the new ETF helps restore XRP’s reputation, which has suffered from legal issues in recent years. This product is expected to create "approval pressure" on the U.S. Securities and Exchange Commission (SEC). While other companies like Bitwise and ProShares await SEC decisions on their applications, BlackRock has yet to file for an XRP ETF, indicating some uncertainty in the regulatory landscape.
The launch of the XRPI ETF may attract more investors and improve XRP’s position in the cryptocurrency market, especially if the SEC makes positive decisions on other ETF applications.
