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Title: New Leveraged XRP ETF Sees $5M Volume on Debut, Landing in Top 5% of ETF Launches
The new Teucrium 2x Daily XRP ETF has made a strong start in the market, with $5 million in trading volume on its debut day. This impressive performance has placed it within the top 5% of ETF launches.
According to reports, Teucrium’s CEO Gilbertie attributed the success to the fund’s unique approach and the excitement surrounding the XRP asset. He highlighted that the company filed for the product immediately after the previous SEC administration stepped down and had to launch as soon as possible once the standard 75-day window expired.
Gilbertie emphasized that the ETF is designed for short-term traders, offering exposure to XRP through swaps based on European XRP ETPs. He warned that buy-and-hold investors may not be suitable for this product due to its high risk and potential losses if the asset price moves slowly or sideways.
On the other hand, aggressive traders can benefit from the ETF’s leverage feature, allowing them to trade with increased exposure to XRP. Gilbertie pointed out that it is challenging to find accessible leverage options on XRP, making the Teucrium ETF an attractive choice for those seeking this type of opportunity.
The successful debut of the leveraged XRP ETF comes as no surprise given the current regulatory environment and the growing interest in cryptocurrency markets. Gilbertie praised the new SEC administration for creating a more crypto-friendly atmosphere, which has allowed the company to launch the product quickly.
Teucrium has also announced plans to develop an inverse XRP ETF, called Teucrium 2x Short Daily XRP ETF. However, the company is taking a cautious approach by waiting to gauge investor demand before launching this new product.
The success of the Teucrium ETF highlights the growing popularity and potential for cryptocurrency-related products in the market.
Source: https://cryptobriefing.com/leveraged-xrp-etf-debut-success/
