Teucrium Investment Advisors, an American asset manager, is preparing to launch the first-ever XRP-based exchange-traded fund (ETF) in the United States.
The Teucrium 2x Long Daily XRP ETF, known by the ticker XXRP, will start trading on NYSE Arca from 8 April.
This new fund is designed to deliver investors double the daily return of $XRP, charging a 1.85% management fee and an annual expense ratio, according to the company’s website.
“If you have a short-term high-conviction view on $XRP prices, you may consider exploring the Teucrium 2x Long Daily XRP ETF”, Teucrium said in a statement.
At launch, XXRP will have about $2 million in net assets. The founder and CEO of Teucrium, Sal Gilbertie, shared with Bloomberg on 7 April that investor interest in an XRP ETF has been strong. Gilbertie also suggested the firm might apply to list more crypto-related ETFs in the future.
Speaking about the timing, Gilbertie said, “What better time to launch a product than when prices are low?”. He noted that the current market downturn, partly caused by tariffs from US President Donald Trump, made this an ideal moment.
At the moment, several asset managers—including Grayscale, Bitwise, Franklin Templeton, Canary Capital, and 21Shares—have spot XRP ETF applications under review by the Securities and Exchange Commission (SEC).
Earlier this year, Balchunas and fellow Bloomberg ETF analyst, James Seyffart, estimated a 65% chance that a spot XRP ETF would be approved in 2025.
On Polymarket, a popular predictions platform, users currently put the odds of a spot XRP ETF approval at 75%.
One major reason XRP ETFs were delayed was the four-year legal battle between Ripple Labs, the company behind $XRP, and the SEC. This case recently concluded, removing a major barrier for future XRP-related products.
Teucrium, founded in 2010, manages more than $310 million in assets. The firm has mostly focused on agricultural commodities, offering ETFs tied to corn, soybeans, sugar, and wheat. However, it has recently expanded into crypto, having launched a Bitcoin futures ETF back in 2022.
The new XXRP fund gives crypto investors, especially those interested in $XRP, something to look forward to. With Ripple nearing the end of its lengthy legal issues, this launch marks a significant step for $XRP adoption in the US.
Why launch a leveraged XRP ETF before a spot one?
Since there is no spot XRP ETF yet available in the US, the XXRP fund will instead base its holdings on $XRP products already trading in Europe.
These include offerings from 21Shares, Bitwise, WisdomTree, Virtune, and CoinShares. In addition, it will use benchmarks like the CME CF XRP-Dollar Reference Rate and the XRP-Dollar Real-Time Index to guide its performance.
Launching a leveraged crypto ETF before a spot version is highly unusual. Balchunas remarked that the timing was “very odd,” especially since many expect a spot XRP ETF to be approved soon.
Teucrium also has plans to launch a short version of the ETF. This future product would allow investors to potentially profit if $XRP’s price falls on a daily basis.
Gilbertie, believes now is the right time for these products, thanks to $XRP’s relatively low price and strong investor interest. He said that the market conditions, along with Ripple’s recent legal victory, have created a favourable environment.
The optimism around Ripple’s legal case has been growing. Ripple CEO, Brad Garlinghouse, recently told Bloomberg that multiple XRP ETFs could arrive in the second half of 2025.
Following the SEC dropping key parts of its case against Ripple, market confidence has soared. Predictions now give an 86% chance of an XRP ETF being approved, and $XRP’s price has jumped by 14% in response.
While big asset managers like Bitwise, Franklin Templeton, Grayscale, and 21Shares have filed applications for their own XRP ETFs, industry experts believe that giants like BlackRock and Fidelity could soon enter the race as well.
Ripple’s legal victory boosts market confidence
Despite the excitement, $XRP investors are dealing with some short-term challenges, with its price falling by 13% weekly.
This decline mirrors a broader sell-off across the cryptocurrency market, with major cryptocurrencies, including Bitcoin, facing losses. Bitcoin alone has fallen more than 6% weekly, now trading around $79,000.
The current sell-off appears to be part of a larger trend across the crypto sector, leaving investors unsure about their next moves.
A well-known software engineer, Vincent Van Code, offered his thoughts, expressing confidence in $XRP’s future despite the recent price drop. He blamed the fall on fear-driven sentiment rather than any actual problem with $XRP itself.
Van Code pointed out that $XRP’s previous price surge—from $0.54 to $3.40—was largely driven by political optimism following the election of a new US administration seen as more favourable to cryptocurrencies.
This, he said, shows that $XRP’s value has been influenced by political factors more than by technical improvements or adoption rates.
Despite the recent price decline, Van Code insisted that $XRP’s fundamentals remain strong. He linked the broader market turmoil to traditional markets, noting that the US stock market lost about $6.5 trillion over two days last week due to rising global trade tensions.
Van Code suggested that the current instability might be part of a “global financial reset,” claiming that actions by the US government are destabilising several economies as part of a wider transformation.
He warned that major changes often need existing systems to collapse before rebuilding can start, and advised investors to expect more turbulence.
Rather than seeing the decline as a reason to panic, Van Code suggested it could be part of a deliberate strategy by influential investors who benefit by shorting the market. He believes these investors could soon switch strategies, leading to a major market recovery.
He compared the situation to “swimming near whales in a stormy sea,” stressing that investors need strategic patience. Van Code urged $XRP holders not to sell out, suggesting that a big price rebound could follow once the market stabilises.
At the time of writing, $XRP trades at $1.88, showing a 7% daily rise, with strong ongoing investor interest.
Meanwhile, technical analysts predict that $XRP could temporarily dip below $1.80 before recovering. Although they expect some panic selling if the price falls under this level, they see no lasting damage to $XRP’s future position.
