GraniteShares Delays 3x XRP ETFs to May 7, Fifth Time

GraniteShares has postponed the launch of its proposed 3x Long and 3x Short Daily XRP exchange-traded funds to May 7, marking the fifth delay in recent weeks. The new date, filed under Rule 485 of the Securities Act of 1933, shifts the effective date from the previous target of April 23 without restarting the full Securities and Exchange Commission review process. The postponement affects eight leveraged ETFs in total, including similar 3x long and short products tied to Bitcoin, Ethereum and Solana.

The filings indicate that all eight funds have been aligned to the May 7 date, pointing to broader regulatory review of the 3x leverage structure rather than issues specific to any one cryptocurrency. These ETFs aim to deliver three times the daily price performance, or its inverse, of their underlying assets through swaps and futures contracts. They would settle in cash without holding the cryptocurrencies directly, allowing U.S. retail investors access to triple-leveraged long or short positions via standard brokerage accounts. GraniteShares Advisors LLC would serve as investment adviser, with Jeff Klearman and Ryan Dofflemeyer as portfolio managers.