Crypto News
GraniteShares has pushed the effective launch date of its 3x Long and 3x Short XRP ETFs to May 7, marking the fifth consecutive delay since the original April 2 target. The issuer used SEC Rule 485 to shift the date without restarting the full registration process.
Crucially, the delay is not XRP-specific. All eight funds in the same filing — 3x leveraged long and short versions of Bitcoin, Ethereum, Solana, and XRP — were moved simultaneously, suggesting the SEC is scrutinising the 3x structure itself rather than any single asset.
On the price chart, XRP is trading around $1.428 with the 9 and 21 moving averages crossing bullish for the first time since August. However, the broader trend remains a series of lower highs from the $3.40 peak, and the $1.50 level has capped price for weeks. Clearing that zone with conviction is the near-term test.
The repeated delays add regulatory…
Frequently asked questions
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What are the implications of the SEC's scrutiny on leveraged crypto ETFs?
The SEC's scrutiny on the 3x structure may impact the approval process for all leveraged crypto ETFs, potentially leading to more delays or stricter regulations across the board.
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How does the delay affect GraniteShares' other leveraged ETFs?
The delay affects not only the 3x Long and 3x Short XRP ETFs but also the eight funds in the same filing, including those for Bitcoin, Ethereum, and Solana, indicating a broader regulatory concern.
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