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Title: Teucrium CEO Thinks Ripple Could Replace SWIFT, Hence the XRP ETF Launch
Teucrium’s Chief Executive Officer, Sal Gilbertie, has openly stated that he believes Ripple could potentially replace legacy systems such as SWIFT. In his recent appearance on the Thinking Crypto podcast, Gilbertie emphasized the importance of this possibility, which directly led to the launch of Teucrium 2x Long Daily XRP ETF (XRP).
Gilbertie stressed that the Ripple team’s dedication and consistency in laying the groundwork for a change in the financial system are what set them apart from other blockchain-based projects. His company decided to back XRP with a leveraged ETF due to its tangible utility and his firm’s strong belief in Ripple’s potential to revolutionize cross-border payments.
Gilbertie pointed out that Teucrium avoided following market trends, opting instead to align the company’s strategy with their institutional expertise. He highlighted this decision as crucial for avoiding competition in the crowded spot ETF market and allowing them to create a leveraged XRP ETF offering double exposure.
Teucrium chose not to provide direct access to XRP futures but used swaps connected to a Swiss ETF that held XRP. This unconventional approach enabled the company to launch ahead of other competitors, resulting in their early mover advantage within the US-based leveraged XRP ETF market.
The fund’s success was achieved with $300 million in assets under management by the end of last month, making it the first US-based XRP ETF to exceed this benchmark. Gilbertie attributed this achievement to the power of the XRP community and traders seeking high-risk, high-reward products.
In his statements on Ripple’s potential to replace SWIFT, Gilbertie revealed a deeper understanding of the financial system and his dissatisfaction with traditional banking experiences.
Source: timestabloid.com
