GraniteShares Targets April 23, 2026 Debut for 3x Long and 3x Short Daily XRP ETFs on Nasdaq

GraniteShares plans to list two leveraged XRP exchange-traded funds on Nasdaq on April 23, 2026, offering traders amplified exposure through derivatives rather than holding XRP directly. The lineup includes the GraniteShares 3x Long XRP Daily ETF and the GraniteShares 3x Short XRP Daily ETF. Each fund is built to seek 300% of XRP's daily move: the long product targets three times the day's gain, while the short product targets the inverse of three times the day's return. The strategy resets every trading day, meaning performance over longer holding periods can diverge materially from "3x" of XRP's cumulative move because of compounding and volatility, and can suffer from volatility decay in choppy markets. Regulatory filings show GraniteShares submitted a post-effective amendment to its Form N-1A registration statement with the U.S. Securities and Exchange Commission around mid-April 2026, building on a broader 2025 registration that covered multiple leveraged crypto ETP concepts. The effective date was adjusted several times from early April to the current April 23 target, a change made under Rule 485 of the Securities Act of 1933, which allows issuers to revise timing without restarting the full process. GraniteShares Advisors LLC will serve as investment adviser, with Jeff Klearman and Ryan Dofflemeyer listed as portfolio managers. The XRP products would join the firm's existing suite of leveraged crypto funds tied to Bitcoin, Ether, and Solana. The proposed launch comes as regulated XRP vehicles have gained traction. Spot XRP ETFs have attracted more than $1.24 billion in inflows since late 2025, underscoring rising institutional participation. Still, leveraged ETFs are typically designed for short-term trading and can produce large, rapid losses, especially when held beyond a single session. Investors are expected to review the prospectus for fees, risk disclosures, and decay effects. As of April 22, 2026, GraniteShares remains on track for the April 23 listing, with final trading details expected to be published via Nasdaq and the GraniteShares website once the products go live.