New XRP ETF hits an inflow record as XRP price wavers
A recently launched leveraged XRP ETF (exchange-traded fund) continued adding assets last week even as the XRP price retreated.
The Teucrium 2x Long Daily XRP ETF, whose ticker symbol is XXRP, has accumulated over $106 million in assets since its approval in April.
Most importantly, the fund has added assets in all weeks since its inception, with last week being its best. ETF.com data shows that it added $30.4 million in assets, a big increase from the $14.1 million it added a week earlier.
The ongoing inflows are a sign that there is demand for XRP ETFs on Wall Street. Spot Ethereum ETFs have added just $2.5 billion in assets since September, while the 2X Solana ETF (SOLT) has only $30 million. SOLT was launched two months before the XXRP ETF.
This view mirrors the JPMorgan forecast for Solana and XRP ETFs. In its report, the bank predicted that the two funds would attract $15 billion in inflows in the first year, with most of them going to XRP.
The next important catalyst to watch is in June when the SEC will rule on the Franklin Templeton XRP ETF.
It will likely delay the ETF approval again, and then it will be approved with those of companies like Bitwise and VanEck ahead of their Oct. 15 deadline.
Polymarket traders have placed an 83% chance of XRP ETFs being approved this year.
