GraniteShares Targets 3X Crypto ETFs as Demand Surges

GraniteShares has submitted proposals to launch 3X leveraged funds for Bitcoin, Ethereum, Solana, and XRP. The asset manager aims to offer both long and short positions on all four assets, giving traders triple the daily performance of each cryptocurrency. 

In a FORM N-1A filing with the Securities and Exchange Commission (SEC), GraniteShares said that their 3X leveraged and inverse funds are for investors who follow the market very closely. The company observed that such products can potentially move three times faster than the related crypto assets, which means that gains can flash in, but losses can also rack up really fast.

Lawyer Bill Morgan also confirmed the filings on X, saying, “There is another filing, this time from GraniteShares, for an XRP ETF that includes 3x long and 3x short leveraged investments with exposure to XRP price.” The timing aligns with a wave of filings from multiple asset managers racing to secure approval for similar products in October 2025.

XRP leads the leveraged ETF craze

XRP has become the top choice for leveraged crypto products, fueled by strong interest from investors. Its 2X ETFs have already pulled in over $300 million, showing massive demand despite tough regulations. Now, fund managers see a clear chance to take things further with 3X leveraged options.

ETF analyst Sumit Roy noted these products are aimed at “a very narrow target audience” and are “intended for the most daring short-term traders.” Moreover, the 3X leverage structure dramatically amplifies both gains and losses, creating volatility that surpasses traditional investment-grade products.

Regulatory shift accelerates ETF filings

On September 17, this year, the SEC approved new rules for crypto ETFs. With the approval, exchanges such as Nasdaq, NYSE Arca, and Cboe BZX can now list approved crypto ETFs faster without waiting months for extra reviews. SEC Chairman Paul S. Atkins stated the move ensures “our capital markets remain the best place in the world to engage in the cutting-edge innovation of digital assets.”

Additionally, the new rules have led companies to pull back their earlier ETF applications for XRP, Solana, and Cardano and resubmit them under the simpler system. As a result, approvals are now expected to happen much faster than before.

Meanwhile, according to Bitcoin Archive on X, BlackRock’s iShares Bitcoin Trust (IBIT) is close to hitting $100 billion in assets, growing faster than most traditional ETFs. 

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