Volatility Shares will debut its XRP futures ETF on the Nasdaq today, the first ever such product.
The exchange-traded fund, part of the Volatility Shares Trust, will indirectly invest in the Ripple-linked token’s futures via its Cayman Islands subsidiary, according to a filing with the Securities and Exchange Commission on May 21.
The company said it plans for the ETF, with the ticker $XRPI, to invest at least 80% of the value of its net assets in XRP-linked instruments.
Volatility Shares also plans to launch a 2x XRP futures ETF that promises twice the daily price appreciation of XRP through double the leveraged exposure to XRP futures.
The so-called 1x fund is a market first, Bloomberg Intelligence analyst Eric Balchunas said on X.
Vermont-based investment firm Teucrium already launched a turbocharged 2x XRP product back in April.
That double leveraged ETF has assets under management of $120 million and trades $35 million per day, Balchunas said.
That’s a “good signal that there will be demand for this one,” he said in reference to VolatilityShares’ new ETF.