The U.S. Securities and Exchange Commission (SEC) has delayed the launch of GraniteShares' proposed 3X leveraged crypto ETFs to November 30, 2026. On October 26, GraniteShares ETF Trust filed a post-effective amendment with the SEC to delay the effectiveness of an earlier registration amendment.
The filing covers eight proposed products, including 3X long and 3X short daily ETFs for XRP, Bitcoin, Ether, and Solana. These funds use financial instruments such as swaps and futures to target three times the daily price moves of the underlying assets, in either direction.
Timing and Market Context
The delay comes eight days before the November 3 U.S. midterm elections, when all 435 House seats and 35 Senate seats are up for election. The results could affect control of Congress and influence future cryptocurrency regulation, potentially making investors hesitant to take on additional risk until the political landscape becomes clearer.
The Federal Reserve's October 27–28 meeting also contributes to current market uncertainty. The Fed is widely expected to maintain interest rates at 3.75%–4.00%, though any unexpected signals about future rate changes could affect crypto markets.
What Comes Next
The updated filing sets November 30 as the planned effective date for the registration amendment, though this does not guarantee all eight funds will begin trading on that specific date. The SEC's filing does not explicitly state whether the agency rejected the products or identify the specific reason for the revised timeline.
