TLDR:
- Graniteshares files for 3x utilized ETFs that cover XRP, Solana, Ethereum and Bitcoin with long and short positions.
- New applications escalate in addition to existing 2X -utilized products that attracted over $ 300 million in XRP ETF flows.
- SEC’s generic listing standards approved September 17 Streamline Crypto ETF approvals without individual reviews.
- The federal government’s suspension freezes routine SEC operations and delays the expected October crypto ETF launches.
Graniteshares has submitted proposals to launch 3X leverage funds aimed at XRP, Solana, Ethereum and Bitcoin, which marks a significant escalation in crypto-derivative products.
The Asset Manager plans to offer both long and short positions over all four crypto courses and provide traders with triple the daily performance for underlying assets. These applications arrive when several competitors compete to capture market shares in reinforced crypto exposure products.
The proposed funds would deliver significantly higher risk reward profiles compared to existing 2x-re-used alternatives that are currently available from Proshares and teucrium.
XRP has emerged as the most popular goal for exploited products due to strong retailer interest, with 2x XRP ETFs that attract over $ 300 million in net flows despite being launched under unusual regulatory circumstances.
Bloomberg -Analyst James Seyffart noted that the applications indicate that the supervisory authorities may be “open to allow more volatile products to market.”
Competitive race for 3x products
Defiance Investments submitted a prospectus for 49 stock exchange traded funds on October 3, including 3x exposure to Bitcoin, Ethereum and Solana ETFS. The aggressive archiving strategy includes both Cryptocurrency-focused funds and products aimed at crypto-related companies such as Coinbase and Micro Strategy.
At the same time, several asset managers conduct 3X utilization offers in October 2025, which creates intensive competition for legislative approval.
ETF analysts Sumit Roy characterized these products as serving “a very narrow target group” of “very high-risk funds intended for the most wavy short-term traders”.
The 3X-Hävstång structure reinforces both potential gains and losses, creating extreme volatility that exceeds typical investment class products. Existing 2x XRP ETFs showed a strong demand in the market during the summer of 2025, which validated the appetite for enhanced crypto exposure through regulated vehicles.
Regulations transformation
SEC approved generic listing standards for commodity-based stock exchange trained products on September 17, 2025, and more efficient crypto ETF approval process.
Exchanges including Nasdaq, NYSE ARCA and CBOE BZX can now list qualified products without individual section 19 (b) reviews, which eliminates months of delays in the legislation. Sec-President Paul S. Atkins stated that the approval ensures “our capital markets remain the best place in the world to get involved in the advanced innovation of digital assets”.
REgulatory shift Urged the SEC to request that several issuers withdraw previous XRP, Solana and Cardano ETF applications and refiles according to simplified standards.
This framework change accelerated the pace of crypto ETF launches by removing bureaucratic barriers that previously slowed Altcoin product approvals. The new standards apply to trade-based trust shares that include most Cryptocurrency ETF structures.
The government’s shutdown impact
The federal government’s suspension from September 30, 2025 has frozen routine Sec operations and placement Crypto ETF approval in limbo. The SEC retains an authority to act on urgent issues such as fraud investigations, but standard applications including ETF approvals have stopped until state financing performances.
Bloomberg -analyst Eric Balchuna’s characterized delay as “as a rain delay”, noting that the suspension has prevented treatment of expected October launches for Litecoin, Solana and XRP Spot ETFS.
Teucrium 2x Long Daily XRP ETF was automatically launched on October 3 when its regulatory period went out under the suspension and highlights an unusual path of approval according to the investment company from 1940.
Multiple Spot Crypto ETF Applications are facing the final decision deadlines between October 18-25, 2025, although the shutdown line remains uncertain. TD COWEN analyst confirmed that the suspension has interrupted the work of waiting for crypto -regulating issues throughout the Commission.
