First XRP ETF in the U.S. to Go Live on Tuesday With Launch of Teucriums Leveraged Fund
Teucrium Investment Advisors will debut the first-ever XRP exchange-traded fund (ETF) in the U.S.
The Teucrium 2x XRP ETF (XXRP) give investors a 2x leveraged exposure to the closely related Ripple token. XXRP will start trading on the NYSE Arca on Tuesday even before a standard spot XRP ETF has been approved by regulators.
Very odd (maybe a first) that a new assets first ETF is leveraged. Spot XRP still not approved, although our odds are pretty high, Bloomberg Intelligence analyst Eric Balchunas said in an X post.
Typically, ETFs tracking emerging assets like cryptocurrencies begin with unleveraged spot funds those that directly hold the underlying asset before more complex leveraged products are introduced.
Teucrium will charge a management fee of 1.85%. The firm cautioned that XRPs price volatility and declining usage on the Ripple network could pose challenges to the funds performance, reflecting broader concerns about the tokens adoption and market stability.
Ripples Legal Resolution Fuels ETF Momentum
Teucriums leveraged ETF arrives amid a flurry of applications for spot XRP ETFs still under SEC review. Major fund managers, including WisdomTree, Bitwise, 21Shares, Canary Capital, and Franklin Templeton, have filed proposals to bring unleveraged XRP ETFs to market.
The SEC has previously acknowledged these applications, and decisions expected in the coming months could pave the way for additional XRP investment options.
XRP is up 6.5% in the past 24 hours, in line with a broader market move higher.
The post First XRP ETF in the U.S. to Go Live on Tuesday With Launch of Teucriums Leveraged Fund first appeared on CurrencyCrypt.
Text source: CurrencyCrypt
