Robinhood Makes History: First U.S. XRP Futures ETF Hits Nasdaq

Wall Street’s favorite disruptor just upped the ante—Robinhood slings the first-ever XRP futures ETF onto Nasdaq. No more begging traditional brokers for crypto exposure.

Why it matters: The move cracks open regulated derivatives trading for XRP, a token that’s spent years in legal purgatory. Suddenly, institutional money gets a backdoor play.

The fine print: This isn’t spot exposure—it’s futures. Translation? Traders bet on price swings without owning the underlying asset. Perfect for hedge funds allergic to actual crypto custody.

Bonus jab: Nothing screams ‘2025 finance’ like packaging a controversial crypto into an ETF wrapper so pension funds can pretend they’re innovative. Game on.

TLDR

• Robinhood and Volatility Shares launched XRPI, the first U.S.-listed XRP futures ETF, on Nasdaq .
• XRPI offers unleveraged exposure to XRP futures without direct token ownership or wallet custody.
• XRPT, a 2x leveraged XRP ETF, was launched alongside XRPI for short-term, high-risk trading strategies.
• Both ETFs use a Cayman Islands structure to comply with U.S. crypto futures regulations.
• XRPI suits risk-aware investors seeking regulated XRP exposure; XRPT is for active traders only.

Robinhood has officially listed the first XRP futures exchange-traded fund (ETF) in the United States. Trading began on May 22, 2025, under the XRPI ticker on the Nasdaq exchange. This ETF offers unleveraged exposure to XRP futures, marking a new milestone for institutional crypto access.

XRPI Launch Expands XRP Access Through Regulated Brokerage Platforms

The XRPI ETF provides 1x exposure to XRP futures and allocates 80% of assets to XRP-linked instruments. These include regulated futures and XRP-related exchange-traded products that avoid direct token custody. The fund structure ensures compliance through a Cayman Islands subsidiary, which handles futures investments legally.

🚨 BREAKING:#XRP ETF IS LIVE ON ROBINHOOD!

TICKER: XRPI 🙌🏼 pic.twitter.com/mPdRJVTQTn

— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) May 23, 2025

XRPI operates with a net expense ratio of 0.94% after Volatility Shares temporarily waived its fee. The product allows investors to participate in xrp price movements without managing wallets, keys, or tax complexities. As a result, XRPI became the first ETF in the U.S. to enable indirect XRP investment via traditional brokerage accounts.

The launch follows Volatility Shares’ strategy of expanding digital asset offerings through familiar ETF frameworks. The fund suits sophisticated investors comfortable with monitoring daily market exposure. XRPI does not hold physical XRP and functions within the limits of existing U.S. securities regulations.

XRPT Offers 2x Daily XRP Exposure to Experienced Traders

Alongside XRPI, Volatility Shares also introduced XRPT, a 2x Leveraged ETF that targets twice the daily performance of XRP. XRPT is aimed at traders seeking amplified exposure to short-term XRP price changes without using actual tokens. Like XRPI, it avoids direct ownership, mitigating custody risks and simplifying portfolio management.

XRPT utilizes leverage to magnify returns but has significant downside risk, especially during volatile sessions. The fund must rebalance daily to maintain its leverage ratio, and incorrect rebalancing may affect tracking accuracy. Investors are advised to actively monitor their positions due to the potential for rapid losses.

This product is not suitable for all market participants. Its leveraged strategy increases volatility, magnifying gains or losses depending on daily performance. Investors should prepare for losing the entire investment in a single trading session.

Volatility Shares Strengthens Market Position With XRP-Linked ETF Launch

Volatility Shares manages over $5 billion in ETF assets and continues leading in crypto-linked financial products. The firm previously launched the first leveraged Bitcoin, Ether, and solana ETFs in the U.S. market. These initiatives showcase its commitment to expanding access to regulated crypto exposure.

The firm emphasizes a first-mover strategy by offering digital asset exposure through ETFs that follow familiar brokerage protocols. This lowers entry barriers for institutions and retail traders alike. With the launch of XRPI and XRPT, Volatility Shares positions itself at the forefront of crypto asset integration.