Ripple continues to pursue the approval of exchange-traded funds (ETFs) tied to its token in the US, despite persistent delays from the SEC.

This week, new filings sparked a debate within the crypto community:

VolShares filed for 5x single stock and crypto ETFs including COIN, CRCL, GOOG, MSTR, NVDA, PLTR, TSLA, Bitcoin, Ether, Solana, XRP… They haven’t even approved 3x and VolShares is like let’s try 5x. Maybe an option on long term government shutdown (if no government in 75 days they can… source)
— Eric Balchunas (@EricBalchunas) October 14, 2025

The purpose of these applications is to let investors trade leveraged ETFs. If sanctioned by the US regulatory authority, they could allow up to 5x leverage.

Scott Melker, popularly known in the crypto realm as The Wolf Of All Streets, flagged concerns regarding these applications, labeling them as potentially disastrous, highlighting the risks tied to offering leverage on more volatile assets like altcoins.

“Because offering leverage on altcoins to retail is f**king stupid. All of them,” Melker remarked.

Traders faced a significant liquidation event recently, making it troubling timing for such leveraged products to be proposed, especially post a dramatic market collapse that wiped out $19 billion from the market.

Consequently, the timing of these filings raises important discussions around risk management in cryptocurrency trading.