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Teucrium Investment Advisors LLC is set to revolutionize the cryptocurrency investment landscape with the launch of the first-ever leveraged XRP ETF in the United States. Approved by the Securities and Exchange Commission the Teucrium 2x Long Daily XRP ETF will start trading on NYSE Arca under the ticker XXRP this Tuesday.
The ETF aims to deliver twice the daily return of XRP by utilizing swap agreements and will vary in performance based on the cryptocurrency’s daily price movements. With a management fee of 1.89% this product is tailored for short-term active investors who are bullish on XRP’s prospects. Indices and ETPs in Europe will serve as benchmarks to set the swap prices given the absence of a spot XRP ETF in the U.S.
The debut of this leveraged ETF follows Teucrium’s history with crypto funds including a Bitcoin futures ETF launched last year and plans for a 2x Short Daily XRP ETF. This introduction signifies a growing acceptance and regulatory clarity for cryptocurrency ETFs in the market highlighted by the recent $50 million settlement between Ripple Labs and the SEC resolving their legal disputes.
