Join Our Telegram channel to stay up to date on breaking news coverage
The XRP price surged 7% as asset manager Teucrium Investment Advisors said it will launch the first-ever XRP ETF (exchange-traded fund) in the US today.
The Teucrium 2x Long Daily XRP ETF, which will start trading under the ticker XXRP on the NYSE Arca exchange, aims to not only offer investors an alternative way to gain exposure to the altcoin, but also to give investors twice the daily return of XRP.
“If you have a short-term high-conviction view on XRP prices, you may consider exploring the Teucrium 2x Long Daily XRP ETF,” the asset manager said.
The fund will include a management fee of 1.85% and an annual expense ratio, according to the alternative investment manager’s website. Distributions will be paid out monthly, and the fund currently has over $2 million in total net assets.
Analyst Calls Leveraged Offering “Odd”
Bloomberg ETF analyst Eric Balchunas commented on the Teucrium XRP ETF in an April 7 X post, saying it’s “very odd” that a new asset’s first ETF is leveraged.
A 2x XRP ETF is launching tmrw in US, the first-ever XRP ETF on the market. Very odd (maybe a first) that a new asset’s first ETF is leveraged. Spot XRP still not approved, altho our odds are pretty high. Story via @isabelletanlee pic.twitter.com/Eg4Wq5Y1Qi
— Eric Balchunas (@EricBalchunas) April 7, 2025
There are currently no spot XRP ETFs in the US market. But Balchunas believes that there is a high probability that a spot fund tracking the fourth largest crypto by market cap will launch soon.
This comes after several spot XRP ETF filings were acknowledged by the US Securities and Exchange Commission (SEC) earlier this year.
Ripple Labs, the company behind XRP, also agreed to settle with the SEC last month. This has ended a years-long legal battle with the regulator, a development that analysts, including Balchunas, believe has paved the way for the approval of a spot XRP ETF.
Related Articles:
Best Wallet – Diversify Your Crypto Portfolio
- Easy to Use, Feature-Driven Crypto Wallet
- Get Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now On App Store, Google Play
- Stake To Earn Native Token $BEST
- 250,000+ Monthly Active Users
Join Our Telegram channel to stay up to date on breaking news coverage
Credit: Source link
