First XRP-Based ETF Set to Launch on NYSE Arca

By: Eva Baxter

In a significant development for the cryptocurrency market, asset manager Teucrium Investment Advisors is poised to make history with the launch of the United States' first exchange-traded fund (ETF) based on XRP, a digital asset developed by Ripple. Set to begin trading on April 8 on the NYSE Arca, the fund, named Teucrium 2x Long Daily XRP ETF, will trade under the ticker symbol XXRP. This offering emerges amid a growing wave of crypto fund filings as regulatory attitudes continue to evolve.

The design of the new ETF seeks to provide investors with a means to achieve double the daily return of the XRP token, offering an opportunity for those with a strong short-term perspective on XRP price movements. Teucrium has highlighted that this leveraged ETF comes with a management fee and an annual expense ratio of 1.85%. This move is especially noteworthy as it comes at a time when many firms are vying to launch the first spot-based cryptocurrency ETF, navigating through the Securities and Exchange Commission's (SEC) stringent approval landscape.

Teucrium's initiative represents a strategic pivot in the broader financial markets, where growing interest in digital assets has prompted traditional financial institutions to explore new investment products. The firm's introduction of the XXRP ETF is reflective of a broader trend that anticipates possible changes in regulatory frameworks governing digital and decentralized finance. This development not only provides new opportunities for investors but also underscores the increasing blending of traditional finance with innovative, digital financial solutions. Those interested in more detailed specifics about the ETF, including risks and projections, can access corresponding resources on Teucrium’s official website.