• The first U.S. XRP ETF launched today on NYSE Arca.

  • It’s a leveraged ETF offering twice the daily return of XRP.

  • This launch precedes SEC approval for a spot XRP ETF.

  • The crypto community is excited, seeing it as a potential catalyst for XRP and altcoins.

  • Political support from the Trump administration may accelerate future ETF approvals.

The Teucrium 2x Long Daily XRP ETF, trading under the ticker XXRP, launched today with the objective of delivering twice the daily return of XRP. This leveraged ETF, managed by Teucrium Investment Advisors, carries a management fee of 1.85% and an annual expense ratio of the same, with current net assets reported at $2 million. Investors can find more details on Teucrium’s website.

Teucrium, with over $310 million in assets under management since 2010, has hinted at potential future crypto ETF filings, signaling a strategic expansion into digital assets.

CEO Sal Gilbertie, in a statement to Bloomberg, remarked, “What better time to launch a product than when prices are low?” This reflects a strategic move during a market downturn influenced by recent U.S. President Donald Trump’s tariffs, aiming to capitalize on lower prices for investor entry.

Significance and Market Context

This launch is particularly noteworthy as it precedes the SEC’s approval of a spot XRP ETF, with several applications still under review. Bloomberg ETF analyst Eric Balchunas described it as “very odd” for the first ETF of a new asset to be leveraged rather than spot, yet he maintained that the odds for a spot XRP ETF approval in 2025 remain “pretty high.”

The leveraged nature means the ETF aims to amplify daily returns, using swap agreements referencing benchmarks like the CME CF XRP-Dollar Reference Rate. This structure, however, introduces risks due to daily resets, potentially leading to compounding effects that deviate from XRP’s long-term performance, a critical consideration for investors.

Regulatory and Political Landscape

The launch occurs amidst a regulatory environment shaped by the Trump administration’s pro-crypto stance. Ripple President Monica Long, in a January 2025 interview with Bloomberg, stated, “I think we will see one very soon” and “I think XRP is likely to be next in line after bitcoin and ether,” citing U.S. regulatory tailwinds.

This optimism is fueled by increased domestic deals, with Ripple signing more U.S. agreements in the last six weeks of 2024 than the previous six months, as per CEO Brad Garlinghouse. Additionally, 75% of Ripple’s open positions are now U.S.-based, indicating strong growth.

Several spot XRP ETF applications are under SEC review, including from Grayscale, Bitwise, Franklin Templeton, Canary Capital, and 21Shares, with filings dating back to late 2024 and early 2025. The SEC’s delay in decisions, as reported in March 2025, adds uncertainty, but the political climate suggests potential acceleration.

Implications for Investors

For investors, this ETF offers a new avenue to gain exposure to XRP without direct ownership, leveraging Teucrium’s experience in alternative assets. However, the 2x leverage amplifies both gains and losses, necessitating a clear understanding of daily reset mechanisms. This could appeal to institutional capital seeking amplified exposure, as noted by community reactions, but retail investors must weigh the risks, especially given the 1.85% fee.

The launch also signals growing institutional interest, potentially increasing XRP’s liquidity and market legitimacy. Ripple’s recent initiatives, like the RLUSD stablecoin, further bolster its ecosystem, suggesting a robust future for XRP-related products.

Launch Specifications

Detail Information ETF Name Teucrium 2x Long Daily XRP ETF Ticker XXRP Launch Date April 8, 2025 Exchange NYSE Arca Objective Offers two times the daily return of the XRP token Management Fee 1.85% Annual Expense Ratio 1.85% Current Net Assets $2 million Company Website for Details teucrium.com/etfs/XXRP CEO Quote on Launch Timing “What better time to launch a product than when prices are low?” Analyst Comment on Odds of Spot XRP ETF Odds remain “pretty high” Predicted Approval Odds for Spot XRP ETF in 2025 65% (Balchunas and Seyffart, February), 75% (Polymarket) Additional Context on XRP ETF Filings Applications from Grayscale, Bitwise, Franklin Templeton, Canary Capital, 21Shares under SEC review Teucrium AUM Over $310 million since 2010

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