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First-ever leveraged XRP ETF set to debut in the US
Teucrium Investment Advisors is all set to launch its first-ever leveraged exchange-traded fund (ETF) linked to XRP, a move that could significantly change the crypto landscape. According to Bloomberg, the Teucrium 2x Long Daily XRP ETF will start trading under the ticker XXRP on the NYSE Arca.
As per the report, the XXRP ETF aims to provide investors with a leveraged way to participate in the growth of XRP. The fund’s underlying assets will be comprised of several exchange-traded products (ETPs) listed on European exchanges, including 21Shares XRP ETP, Bitwise Physical XRP ETP, Virtune XRP ETP, WisdomTree Physical XRP ETP, and CoinShares Physical XRP ETP.
The launch comes at a time when the year-long legal battle between the Securities Exchange Commission (SEC) and Ripple Labs, the company behind XRP, approaches its final stages. In a recent interview with Bloomberg, Ripple CEO Brad Garlinghouse expressed optimism about the impending approval of multiple XRP ETFs in the US by the end of 2025.
The decision to launch this leveraged XRP ETF now is largely driven by attractive low prices and significant investor demand for XRP, according to Sal Gilbertie, founder and CEO of Teucrium ETFs. The latter is expected to be heightened with the fund’s leverage, he added.
It is worth noting that the market has already reacted positively to the development. As a result of the favorable settlement between Ripple Labs and the SEC, XRP’s value surged by 14%, pushing the odds of XRP ETF approval up to 86%.
Source: https://cryptobriefing.com/first-leveraged-xrp-etf-us/
