New ETF for XRP Bears Proposed in US

Volatility Shares, a firm that is focused on the development of innovative leveraged exchange-traded funds (ETFs), has proposed three new XRP products.

Notably, it has filed for a unique ETF product (-1x XRP ETF) that would make it possible for XRP bears to bet against the Ripple-affiliated token.

The product’s daily performance would inversely correspond to the return of the XRP price.

On top of this, the firm also filed for a run-of-the-mill spot XRP ETF and another leveraged ETF product that would double the performance of the Ripple-linked token.

In its filings, Volatility Shares outlined some risks associated with XRP that include an increase in the global supply of the token, forks in the XRP Ledger, the determination that XRP is a security, manipulative trading activity and so on.

Volatility Shares is, of course, known for launching the very first leveraged Bitcoin futures ETF back in June 2023 (months before the debut of the first spot Bitcoin ETFs).

As reported by U.Today, the U.S. Securities and Exchange Commission (SEC) recently acknowledged various XRP ETF filings despite the fact that it has yet to drop its appeal against Ripple.

The odds of such a product being approved in the U.S. have mostly fallen flat over the past two months, according to Polymarket data. Presently, users of the leading betting website see a 76% chance of this happening as soon as this year.

The SEC will have to decide whether it should approve an XRP ETF by Oct. 18.

In the meantime, a spot XRP ETF was recently approved in Brazil.

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