Asset Manager Launches First US XRP ETF

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US-based asset manager Teucrium Investment Advisors is set to launch a 2x leveraged XRP exchange-traded fund (ETF) on April 8, as announced on their website.

The XXRP ETF, based on Ripple Labs’ native token, will be listed on NYSE Arca.

Bloomberg Senior ETF Analyst Eric Balchunas highlighted the unusual nature of this launch on X, noting, “Very odd (maybe a first) that a new asset’s first ETF is leveraged. Spot XRP still not approved, although our odds are pretty high.”

The fund aims to deliver twice the daily performance of Ripple’s XRP token and is intended for short-term trading, with a management fee of 1.85%. Teucrium cited volatility and declining usage as potential risks that could impact the ETF’s performance.