Teucrium’s 2x Long Daily XRP ETF Achieves $5 Million in First Day Trading
Teucrium Investment Advisors launched the 2x Long Daily XRP exchange-traded fund (XXRP), the first leveraged XRP product in the U.S. The ETF achieved $5 million in trading volume on its debut, ranking among the top 5% for new ETFs.
- The ETF aims to deliver twice the daily returns of XRP through swap agreements.
- Due to a lack of U.S.-listed spot XRP ETFs, swaps reference rates use several European exchange-traded products.
- A pro-crypto shift in the U.S. government facilitated the ETF's market entry, following the previous SEC administration's departure.
- Initial trading activity was four times that of Volatility Shares’ 2x Solana ETF (SOLT).
- The fund provides exposure to XRP via swaps and other instruments like futures, targeting short-term traders.
- Teucrium is planning an inverse XRP ETF, pending demand assessment.
CEO Sal Gilbertie noted the launch as the most successful day for any fund by Teucrium, highlighting significant market excitement.