#XRPETFs Asset manager Teucrium launched the first U.S.-based XRP exchange-traded fund (ETF), the Teucrium 2x Long Daily XRP ETF, trading under the ticker XXRP. This leveraged ETF aims to deliver twice the daily return of the Ripple-linked XRP token, making it a tool for short-term traders seeking amplified exposure to XRP's price movements.
The launch occurred amid market volatility fueled by tariff-related uncertainties. On its debut, over 215,000 shares of XXRP were traded, indicating strong investor interest. However, both XRP and XXRP experienced declines on the first day, with XRP down about 5% to $1.84 and XXRP dropping approximately 13%, highlighting the risks associated with leveraged products in turbulent markets.
Teucrium's CEO, Sal Gilbertie, emphasized that the ETF is designed for short-term trading and benefits from volatile conditions. He cautioned that there is no assurance of future growth in XRP usage; declining interest could increase volatility or depress XRP’s value.