U.S. Gets First 1x XRP Futures ETF as Volatility Shares Expands Crypto Offerings

• Volatility Shares launches the first 1x XRP futures ETF to track XRP price with lower risk.
• XRPI ETF will trade on Nasdaq and focus on cash-settled XRP futures contracts.
• SEC delays spot XRP ETF decisions while futures products like XRPI gain investor interest.

Volatility Shares will launch the first 1x XRP futures ETF in the U.S. today, May 22. The new fund, trading under the ticker XRPI, offers investors a non-leveraged way to track XRP price movements. It will be listed on the Nasdaq exchange.

New ETF Targets Broader Investor Base

The XRPI ETF is designed to match XRP futures performance one-to-one. This structure appeals to retail and institutional investors seeking lower-risk exposure. The fund avoids the increased volatility associated with leveraged products.

Volatility Shares, the investment adviser, will manage the fund. A 1.15% management fee applies but will drop to 0.94% through May 2026. This reduction is part of a temporary fee waiver agreement.

Structure and Strategy of XRPI

XRPI will focus on cash-settled XRP futures. These will be accessed through a Cayman Islands subsidiary. At least 80% of the fund’s assets will be allocated to XRP-linked financial instruments.

The fund comes after the success of a leveraged version, the 2x XRP ETF. Managed by Teucrium, the leveraged ETF currently holds about $120 million in assets. It also sees daily trading volumes near $35 million.

SEC Yet to Approve Spot XRP ETFs

While XRPI moves forward, spot XRP ETF applications remain pending. The U.S. Securities and Exchange Commission has delayed decisions on proposals from 21Shares and Franklin Templeton. A final response is expected by June 17.

The regulatory delay highlights a cautious approach from the SEC. Meanwhile, the futures-based products are gaining traction. Market participants appear increasingly interested in XRP-related funds, despite limited options for direct spot exposure.

Other Markets Show Growing XRP Interest

Interest in XRP is also increasing on global trading platforms. The Chicago Mercantile Exchange launched its own XRP futures contracts on May 19. These are settled in cash and benchmarked to the CME CF XRP-Dollar Reference Rate.

Trading on CME reached $2.4 million on the first day. Data later showed that volume climbed to $19 million. This suggests strong demand for structured XRP products.

Market Sentiment and Current Price Action

As of press time, XRP is trading slightly above $2.40. Market indicators show mixed trends. A potential bullish flag pattern is forming. This setup typically signals a continuation trend, though confirmation remains necessary.

The XRPI ETF enters a growing market with increasing investor interest. Its non-leveraged structure may attract those seeking stability in a volatile crypto landscape.