Volatility Shares will launch an XRP futures exchange-traded fund (ETF) on May 22, Bloomberg's senior ETF analyst Eric Balchunas informed on X .

It is the first 1x futures fund linked to XRP, and it will trade under the XRPI ticker, Balchunas added. "Good signal that there will be demand for this one."

The fund, as part of the Volatility Shares Trust, will trade on Nasdaq, as per the post-effective amendment it filed with the Securities and Exchange Commission (SEC) on May 21.

The ETF will indirectly invest in XRP futures through a wholly-owned subsidiary based in the Cayman Islands. It will invest at least 80% of the value of its net assets in XRP-linked instruments.

Volatility Shares is also planning to launch the 2x XRP futures ETF that promises twice the daily price appreciation of XRP through twice leveraged exposure to XRP futures.

Vermont-based Teucrium Investment Advisors already launched a 2x futures fund tied to XRP (XXRP) that gives a 2 times leveraged exposure to XRP. The fund recorded a trading volume of $5.43 million on its debut on Apr. 8 that Balchunas deemed “very respectable.”

The Teucrium fund has $120 million in assets under management and has a daily trading volume of $35 million, the analyst underlined.

ProShares, a Maryland-headquartered ETF issuer, will soon launch three XRP ETFs: Ultra XRP ETF (2x leverage), UltraShort XRP ETF (inverse 2x leverage), and Short XRP ETF, as per its April 15 filing with the SEC .

On May 19, the Chicago Mercantile Exchange (CME) — a leading American derivatives marketplace — also launched regulated XRP futures and micro XRP futures.

Meanwhile, nine XRP-tied spot ETF applications, including one by the Wall Street giant Franklin Templeton , still lie before the SEC.

Besides, Ripple's case with the SEC is still ongoing, with the court denying the settlement motion.

XRP, the fourth-largest cryptocurrency, was trading at $2.36 at press time, up 0.9% a day.