Volatility Shares made a major move in crypto investing by launching the first U.S.-listed XRP futures ETF on May 22, 2025. Trading on Nasdaq under the ticker XRPI, this fund offers investors direct exposure to XRP price movements through regulated futures contracts—without needing to own XRP directly.
What is the XRPI ETF?
The XRPI ETF invests primarily in XRP futures contracts and XRP-linked exchange-traded products. It allocates at least 80% of its assets to these holdings, aiming to track XRP’s price one-to-one (1x exposure). This structure allows investors to participate in XRP’s price changes without managing crypto wallets or dealing with exchanges.
Key details include:
- Expense Ratio: Gross 1.15%, net 0.94% after fee waivers
- Trading Venue: Nasdaq
- Exposure: Indirect, via XRP futures contracts
How Does XRPI Compare to Other XRP ETFs?
Volatility Shares also offers a 2x leveraged XRP futures ETF, ticker XRPT, which seeks to deliver twice the daily performance of XRP futures. This follows Teucrium Investment Advisors’ 2x leveraged XRP futures ETF, ticker XXRP, launched earlier in 2025. XXRP has gathered $120 million in assets and averages $35 million in daily trading volume, showing strong investor interest.
| Feature | XRPI (Volatility Shares) | XXRP (Teucrium) |
| Type | 1x XRP Futures ETF | 2x Leveraged XRP Futures ETF |
| Launch Date | May 22, 2025 | April 2025 |
| Exchange | Nasdaq | Nasdaq |
| Asset Allocation | ≥80% XRP futures & linked products | XRP futures |
| Expense Ratio | Gross 1.15%, Net 0.94% | Not specified |
| Assets Under Management | Newly launched | $120 million |
| Daily Trading Volume | To be established | $35 million |
Why This Launch Matters
The XRPI ETF launch is a key milestone for XRP and crypto investing in the U.S. It provides a regulated, easy-to-access vehicle for investors who want XRP exposure without the hassle of direct crypto ownership.
This product also signals growing regulatory acceptance of XRP-related investment tools. The timing is notable, coming soon after XRP futures began trading on the CME Group, which saw over $15.6 million in combined volume shortly after launch.
Experts believe this ETF could boost the chances of SEC approval for spot XRP ETFs, which would hold XRP directly. The futures ETF acts as a bridge, helping investors and regulators get comfortable with XRP in mainstream markets.
What Investors Should Know
- No Wallets Needed: XRPI lets you invest in XRP price movements without managing crypto wallets or exchanges.
- Regulated Access: Trading on Nasdaq means familiar rules and protections for investors.
- Expense Considerations: The ETF has a reasonable expense ratio for futures-based crypto exposure.
- Leverage Options: For those seeking higher risk and reward, leveraged ETFs like XRPT and XXRP are available.
Key Takeaways
- Volatility Shares’ XRPI is the first 1x XRP futures ETF in the U.S., opening new doors for XRP investment.
- It simplifies crypto exposure by using futures contracts instead of direct ownership.
- The launch complements existing leveraged XRP futures ETFs and follows CME’s XRP futures debut.
- This ETF could pave the way for future spot XRP ETF approvals, expanding regulated crypto options.
FAQs
Q: What is an XRP futures ETF?
- A: It’s an ETF that tracks XRP’s price through futures contracts, not by holding XRP directly.
Q: How does XRPI differ from buying XRP?
- A: XRPI offers price exposure without needing crypto wallets or direct ownership, reducing complexity.
Q: Why is this ETF launch important?
- A: It marks a step toward mainstream, regulated crypto investing and may help future XRP ETF approvals.
Q: Are there leveraged XRP ETFs?
- A: Yes, XRPT (Volatility Shares) and XXRP (Teucrium) offer 2x leveraged exposure to XRP futures.
Q: Where can I trade XRPI?
- A: On Nasdaq, through your regular brokerage account.
Volatility Shares’ launch of the XRPI ETF is a fresh chapter in crypto investing. It offers a practical, regulated way to tap into XRP’s price action. Will this spark more interest in XRP ETFs and crypto futures? Time will tell. For now, investors have a new tool to consider in their portfolios.
