Teucrium has expanded its ETF lineup with the launch of the Teucrium 2x Long Daily XRP ETF (XRPP) on the NYSE Arca today.
XXRP aims to provide 2x leverage on the performance of XRP futures. This makes it ideal for investors who want to amplify their exposure to the cryptocurrency’s daily price movements without directly investing in it. XRP, a cryptocurrency, also goes by “Ripple.”
The new fund comes as interest in alternative markets continues to rise, additionally fueled by wider adoption, technological advancements, and the search for diversification.
First US Leveraged XRP ETF
XXRP is the first ETF in the U.S. to offer leveraged exposure to XRP. Other firms including Volatility Shares, Wisdom Tree, and Franklin Templeton have filed for XRP ETFs. But XXRP is the first ETF tied to XRP to hit the market with its leveraged strategy.
“XRP has established itself as a key player in the digital asset space, and XXRP provides a unique opportunity for investors to capitalize on its potential with a leveraged strategy, all within the familiar structure of an ETF,” said Teucrium CEO Sal Gilbertie. “Investors are increasingly seeking ways to engage with cryptocurrencies in a regulated, accessible manner.”
According to the prospectus, XXRP comes with an expense ratio of 1.85%. Springer Harris, Spencer Kristiansen, and Joran Haugens of Teucrium manage this active fund.
Teucrium’s Commodity-Focused Expertise
Teucrium is known for its expertise in agricultural and commodity-focused ETFs, earning a strong reputation since its inception in 2010. Its largest fund, the Teucrium Wheat Fund (WEAT ), has over $113 million in assets under management. The addition of XXRP brings the issuer’s offering under its Teucrium brand to nine ETFs listed in the U.S.
For more news, information, and analysis, visit the Commodities Channel.