GraniteShares announced the launch of a 3x-leverage XRP ETF on April 23, 2026, but the release was delayed to May 7. The delay came after the US Securities and Exchange Commission (SEC) pushed back on the launch during the review process. However, if the May 7th launch date gets delayed again, most likely GraniteShares might not release the 3x-leverage XRP ETF in 2026. The framework will allow users to leverage the XRP ETF with 3x Long and 3x Short trading.
It is facing regulatory clearance and uses the Rule 485 filing under the Securities Act of 1933 that allows GraniteShares to shift the 3x-leverage XRP ETF launch dates without restarting the full review process. ProShares had also planned to launch a similar GraniteShares 3x-leverage XRP ETF in 2025 but faced hurdles from the SEC. The financial firm eventually withdrew the crypto lineup and stalled the release by rolling back the idea.
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GraniteShares 3x-Leverage XRP ETF Facing Regulatory Hurdles
If the development gets delayed, chances also remain high that GraniteShares might scrap the 3x-leverage XRP ETF. The SEC’s calculus for approval is different for leverage trading due to the risk it carries for users. It leads to compounding losses when the market heads south, putting pressure on both the user and the exchange. Since leverage is borrowed funds, interest charges and funding rates accumulate, which mostly eat into profits.
The SEC approved 2x leverage XRP ETF trading in 2025 for Teucrium and NYSE Arca in 2025. Both exchanges have built $440 million in assets through the ETFs. GraniteShares is going a step further from these two, extending higher leverage to users. The risk-to-reward ratio remains high for traders who are willing to take the chance through leverage. Another delay could make the exchange firm roll back the project and most likely reapply in 2027 or scrap it altogether.