Upcoming Launch Timeline for the Leveraged XRP ETF by Teucrium in the United States
"Here's the Scoop on Teucrium's XRP Leveraged ETF"
Vermont-based crypto asset manager, Teucrium, boldly steps into uncharted territory today, launching the first U.S.-based leveraged XRP exchange-traded fund (ETF). The ever-anticipated Teucrium 2x Long Daily XRP ETF (XXRP) is now slated to list on NYSE Arca, promising twice the daily performance of XRP.
But why go for the leveraged ETF first? well, you might ask.
Growing crypto fever spearheads the intriguing choice. Multiple heavyweight issuers, including the renowned WisdomTree, Franklin Templeton, Canary Capital, and 21Shares, have already submitted proposals for XRP ETFs, all awaiting the go-ahead from the Securities and Exchange Commission (SEC).
However, some pundits have branded the launch as "very odd" for the simple reason that leveraged products typically trail spot approvals. Eric Balchunas of Bloomberg postulated these oddities, claiming that while our hopes for XRP spot approval are indeed high, it hasn't happened yet.
The SEC's relaxed stance on cryptos owes to Trump's presidency victory and a spate of court losses. Last month, the agency conceded defeat in its persistent case against Ripple Labs, XRP's creator, settling for a $50 million fine — a considerably reduced penalty that cleared the path for XRP spot ETFs.
Aimed squarely at short-term traders, Teucrium's fund carries a 1.85% management fee and warns investors of XRP's considerable volatility and declining performance. The product's demand remains uncertain, as Ethereum ETFs continue to struggle in attracting institutional interest.
On the XRP price front, the cryptoasset exhibits a contrasting trend. Currently trading at $1.87, XRP boasts a 7% gain within the last 24 hours. However, this upswing belies a string of lackluster performances across different timeframes, with XRP losing 11.2% in the past week, 23% in the past two weeks, and a hefty 20% within the last month.
To put these losses into perspective, the overall crypto market faces a 8.2% slump following the aftermath of President Trump's new trade policies. Nevertheless, XRP's yearly growth stands an impressive 215%, a boost largely attributed to favorable legal outcomes and ETF speculation.
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- Teucrium's latest offering, the Teucrium 2x Long Daily XRP ETF (XXRP), is set to list on NYSE Arca, offering twice the daily performance of XRP.
- With multiple XRP ETF proposals awaiting SEC approval from notable issuers like WisdomTree, Franklin Templeton, Canary Capital, and 21Shares, Teucrium's leveraged ETF launch seems intriguing.
- Despite increasing interest in cryptocurrencies like XRP and the SEC's relaxed stance on cryptos, some experts have identified Teucrium's leveraged product launch as "very odd," as leveraged products typically come after spot approvals.
- Teucrium's fund, aimed at short-term traders, carries a 1.85% management fee and advises investors of XRP's volatility and declining short-term performance.
- While Ethereum ETFs have failed to attract institutional interest, the despite XRP's volatility, it has shown impressive yearly growth of 215%.
- Amid President Trump's new trade policies causing an overall crypto market slump of 8.2%, XRP has managed a 7% gain within the last 24 hours, but has seen losses of 11.2% within the past week, 23% in the last two weeks, and 20% in the last month.
