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XRP ETF to Start a 2x Leveraged Investment on NYSE Arca
A groundbreaking move is expected in the cryptocurrency market as Teucrium, a U.S.-based asset manager, has announced that it will launch a Double-Powered leveraged XRP exchange-traded fund (ETF) on April 8th. The newly created XXRP ETF will be listed on NYSE Arca.
The innovative ETF is designed to provide twice the daily performance of Ripple’s XRP token, making it an attractive option for short-term traders. It’s noteworthy that this move comes at a time when spot XRP ETF applications remain in progress by the U.S. Securities and Exchange Commission (SEC).
It’s important to mention that Teucrium will charge a service fee of 1.85% on its fund documents. The company has also warned investors that extreme price changes, combined with an increase in usage, could negatively impact the ETF’s performance.
The launch of this leveraged ETF comes at a critical time for the cryptocurrency market, where spot XRP activity has seen an uptick recently. Furthermore, it is worth noting that several other investment companies have had their XRP ETF applications accepted by the SEC. It is expected that more such investment vehicles will be made available to investors in the coming months.
The timing of this move may also be significant, given the recent history of cryptocurrency-related regulatory changes in the United States. As you might recall, the SEC confirmed its first batch of spot Bitcoin ETFs in January 2024, which led to a surge in interest for ETFs related to other cryptocurrencies like XRP and others.
Following the decision by the SEC to drop an investigation against Ripple Labs (the company behind the XRP token) in March, a significant number of investment companies have been applying to start spot ETFs based on various cryptocurrencies.
Source: https://bitcoinik.com/xrp-etf-start-a-2x-leveraged-investment-on-nyse-arca/
