GraniteShares pushes back 3x XRP ETF debut to May 7 as accumulation stays strong
GraniteShares has delayed the launch of its leveraged XRP exchange-traded funds to May 7, 2026, after filing a post-effective amendment with the U.S. Securities and Exchange Commission.
The change resets the effective date for the firm's planned 3x Long XRP ETF and 3x Short XRP ETF, which had been slated for late April. The amendment was filed under Rule 485, which allows issuers to revise timelines without restarting the full registration process.
The same filing package also covered other leveraged ETFs linked to Bitcoin, Ethereum and Solana. These products are designed to target 300% of daily performance through derivatives such as swaps and futures rather than holding the underlying assets. Leveraged ETFs are typically viewed as higher-risk due to daily resets and compounding effects, which can cause returns to deviate over time, and they tend to face closer SEC scrutiny.
GraniteShares also reported distribution rates for its YieldBOOST lineup, including SEMY at 129% and TSYY, tied to Tesla, at 81.88%, reflecting volatility-linked strategies rather than traditional income generation.
On-chain and exchange-flow data continued to point to accumulation in XRP despite softer price action. February saw the largest net outflow of XRP from centralized exchanges to custodial wallets since November 2025, with institutions moving more than 7 billion XRP. Since the start of April, large holders have added an average of about 11 million XRP per day. Mid-sized participation also strengthened, with wallets holding 1K–100K XRP rising to a record: more than 1.1 million wallets held XRP valued between about $1.4K and $140K.
Price reaction turned negative after the delay. XRP slipped from $1.46 to around $1.40 before attempting to recover. Derivatives metrics weakened: Open Interest fell by roughly $11 million, from about $288 million to $277 million, while Net Positions declined from around 39 million to 29 million, implying about 10 million XRP were sold in the futures market.
Near-term direction hinges on whether $1.40 holds. A return of buying interest could lift XRP back toward $1.46 or higher; failure to defend the level could extend this week's downside. Overall, the ETF delay weighed on the token, while ongoing accumulation helped limit the size of the drop.
