Major Move for Ripple in the US: First Fund Launching Today! - Coin Bulletin

Vermont-based asset management company Teucrium Investment Advisors LLC is launching the first XRP-based exchange-traded fund in America today.

Teucrium 2x Long Daily XRP ETF (XXRP), is designed as a leveraged fund based on XRP, which is the fourth largest cryptocurrency in the world by market capitalization. This fund aims to provide investors with twice the daily price performance of XRP. The company stated on its website, "If you have a strong belief in XRP prices in the short term, you might consider looking into the Teucrium 2x Long Daily XRP ETF."

XXRP will start trading on NYSE Arca as of April 8, with monthly distributions and a %1.85 management fee. Teucrium's XXRP fund is the only XRP based fund listed on the Depository and Clearing Corporation's (DTCC) active and pre-launch list.

Bloomberg Senior ETF Analyst Eric Balchunas said, "A 2x XRP ETF is being launched in America tomorrow, this will be the first XRP ETF on the market,". He also made a statement saying, "It's quite strange, perhaps for the first time, that the first ETF for a new asset is leveraged. Spot XRP has not yet been approved, but our chances are quite high."

Many American companies, such as Grayscale, WisdomTree, and Bitwise, had applied to the SEC following the positive changes in crypto regulations during President Donald Trump's term. The SEC announced that it has accepted several spot XRP ETF applications this year, indicating that the review process is progressing.

(# Ripple and SEC agreement may facilitate XRP ETF approval

Ripple Labs, the company that created and supports the development of XRP, reached a settlement with the SEC last month, ending a legal battle that had lasted for years. Ripple accepted a fine reduced from 125 million dollars to 50 million dollars.

Presto Research analyst Min Jung said, "The SEC's decision to withdraw its appeal has removed a significant legal barrier and made the approval of the XRP ETF more likely. After Bitcoin and Ethereum, XRP or Solana are strong candidates,".

However, Jung noted that the demand for spot XRP ETFs is uncertain. "Ethereum ETFs have seen limited interest, and institutions are still saying 'there is no second option,'" he added.