Teucrium’s 2x XRP ETF Achieves $5.43 Million in First-Day Trading

Teucrium launched a 2x XRP ETF on the New York Stock Exchange, achieving a turnover of $5.43 million on its first day, April 8. This occurred amid a bearish market, with XRP prices hitting a five-month low of $1.61.

XRP Price Movements

XRP price dropped to $1.61, then briefly recovered to over $1.87 before closing at $1.69.
The ETF aims to profit from price volatility despite the current market conditions.

ETF Performance Compared to Solana

XXRP's first-day trading volume was four times higher than that of a similar 2x Solana ETF.
This performance places XXRP in the top 5% of new ETF launches.
However, it is significantly lower than BlackRock’s Bitcoin ETF debut, which saw 200 times higher volume.

Despite widespread liquidations in the crypto markets totaling over $413 million, the altcoin community shows interest in the ETF launch. Some analysts suggest that a potential spot ETF (dubbed "IXRP") could offer stronger competition in the future.

Risk Factors of XXRP

XXRP does not directly hold XRP tokens; it aims to deliver twice the daily performance of XRP price movements.
This structure amplifies both potential gains and losses for investors.
High volatility can lead to significant losses even if XRP prices remain stable.

More than 10 asset managers have filed applications for spot XRP ETFs, including major firms like Grayscale and Franklin Templeton, while BlackRock has not shown interest in an XRP-specific product.