Source: Cointelegraph Original: "{title}"
Asset management company Teucrium Investment Advisors will launch the first XRP-based exchange-traded fund (ETF) in the U.S. market, which will be listed on the NYSE Arca exchange.
The Teucrium 2x Long Daily XRP ETF aims to provide investors with double the daily returns of the XRP (XRP) token, with a management fee and annual expense ratio of 1.85%, according to the company's official website. This XRP-based ETF will begin trading under the ticker symbol XXRP on April 8.
The asset management company stated, "If you have a strong short-term view on the price of XRP, you might consider exploring the Teucrium 2x Long Daily XRP ETF."
Currently, the net assets of XXRP stand at $2 million.
Details of Teucrium's upcoming XXRP ETF. Source: Teucrium
Teucrium founder and CEO Sal Gilbertie told Bloomberg on April 7 that investors have shown strong interest in the XRP ETF and hinted that the company may apply for more cryptocurrency ETFs in the future.
Gilbertie also mentioned that XXRP will launch during a market downturn triggered by U.S. President Trump's tariff policies, which he finds very encouraging.
"When is the best time to launch a product? It's when prices are low," Gilbertie said in an interview with Bloomberg.
Analyst: The likelihood of a spot XRP ETF approval remains high
Bloomberg ETF analyst Eric Balchunas stated that it is "very strange" to see the first ETF of a new asset being leveraged, but he added that the likelihood of a spot XRP ETF being approved remains "quite high."
Source: Eric Balchunas
Applications for spot XRP ETFs submitted by Grayscale, Bitwise, Franklin Templeton, Canary Capital, and 21Shares are currently under review by the U.S. Securities and Exchange Commission (SEC).
In February, Balchunas and another Bloomberg ETF analyst, James Seyffart, estimated the probability of a spot XRP ETF being approved by 2025 at 65%.
Prediction market Polymarket currently indicates a 75% probability of the SEC approving a spot XRP ETF by 2025.
Until recently, the environment for ETF issuers applying for XRP ETFs was different from before, as Ripple Labs, the creator of the XRP token, and the SEC engaged in a four-year legal battle over the security status of XRP.
This case concluded last month.
Since its establishment in 2010, Teucrium has managed over $310 million in assets.
The company primarily offers agricultural commodity ETFs, such as those tracking corn, soybeans, sugar, and wheat.
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