GraniteShares Inc. has submitted a proposal to the U.S. Securities and Exchange Commission (SEC) to introduce a 3x leveraged exchange-traded fund (ETF) for XRP. This marks the first attempt to launch such a product for XRP, aiming to provide traders with amplified exposure. The filing comes after the success of 2x leveraged ETFs for cryptocurrencies like Bitcoin, Ethereum, and Solana. The proposed ETF could potentially heighten market volatility and speculative trading in XRP, posing risks for both institutional and retail investors. The approval process is currently delayed, partly due to a government shutdown, leaving the outcome pending.