Teucrium Investment Advisors will debut the first-ever XRP exchange-traded fund (ETF) in the U.S.
The Teucrium 2x Long Daily 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 asset’s 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 XRP’s price volatility and declining usage on the Ripple network could pose challenges to the fund’s performance,…
