Volatility Shares launches the first XRP futures ETF, marking a turning point for the integration of this asset into institutional finance.

Some launches redefine the place of an asset in the crypto ecosystem. On May 22, 2025, Volatility Shares will introduce the first XRP futures ETF to the market

May 22, 2025 will see the launch of the first XRP futures ETF by Volatility Shares, arriving in the form of a product closely linked to the new futures contracts introduced by CME Group.

The first 1x exposure XRP futures ETF will be officially launched on May 22, 2025 by Volatility Shares, a recognized player in crypto derivatives products. The ETF, named “XRPI” and closely linked to the new futures contracts introduced by CME Group, will be listed on Nasdaq.

This ETF is directly based on XRP futures contracts listed by CME, available for only two days. The agility with which this product was structured indicates clear market anticipation and an already existing institutional appetite for regulated XRP products.

This launch takes place in a competitive context notably marked by the presence for several weeks of the Tectum 2x Long Daily XRP ETF, a leveraged ETF based on the same crypto. It shows spectacular figures, highlighting market demand:

Given this observation, Volatility Shares has chosen a different strategy with XRPI. The company is betting on unleveraged exposure (1x) to attract more conservative institutional investors.

As Balchunas points out, this is “an initiative aimed at providing returns that double the projected daily gains of XRP on the market.” This refers to the success of the 2x as an indicator of preexisting interest in a more moderate version suited to portfolios with controlled risk.

A gateway to an XRP spot ETF ?

If the launch of XRPI draws so much attention, it is also because it rekindles speculation around an XRP spot ETF, whose approval by the SEC is still pending. The timing of the launch, combined with the rapid structuring of these derivative products, is interpreted by some actors as a precursor signal.

In his analysis, Balchunas considers that “the launch of XRP futures […] propels XRP toward widespread adoption.” In other words, these advances could serve as a springboard toward more comprehensive regulatory recognition of the crypto.

This shift from leveraged products to a 1x version, more institutionally compatible, potentially serves to build a trajectory toward a spot product, similar to what has been observed with Bitcoin.

This hypothesis also relies on recent developments in the Ripple ecosystem. For several weeks, positive signals have emerged: partial regulatory clarification in the United States, partnership agreements in the banking sector, and a resumption of certain cross-border activities.

In this context, the XRPI ETF appears as the most credible regulatory entry point for a comeback of XRP among institutional investors, long cooled by Ripple’s legal battles with the SEC. The recent rejection of the amicable agreement between the two parties by the US judiciary reignites legal uncertainties around Ripple and strengthens interest in regulated derivative instruments.