Teucrium Investment Advisors’ 2x Long Daily XRP Exchange-Traded Fund (XXRP), the first geared XRP product in the US, got $ 5 million in trade volume on its Tuesday debut and became one of the company’s “most successful” introductions and posted a top 5% performance for a new ETF.
ETF is designed to deliver twice the daily return of XRP through swap agreements. Without suitable US-notified SPOT XRP ETFs available, Swaps’ reference speeds incorporate more European stock exchangeed products.
The change in the US government and its more pro-crrypto attitude helped bring ETF to the market. The archiving of ETF took place right after the prior Securities and Exchange Commission (SEC) administration left, and as soon as the standard 75 -day review period went, the Teucrium grabbed the earliest launch window.
“We filed as soon as we could after the old SEC regime was back … We launched today,” said CEO Sal Gilbertie on Tuesday. “I think it’s almost a few hundred thousand shares.”
The fund saw about four times the initial activity of volatility share ‘2x Solana Etf (sun), which propelled it to the top 5%, according to Bloomberg Etf analyst Eric Balchunas.
“It’s been a fantastic, very successful launch – our most successful launch day to date for any fund we’ve ever done,” Gilbertie said. “There was overwhelming excitement … I think a lot because we were overlooked.”
ETF gets XRP exposure through swaps tied to European XRP ETPs, but can also use other XRP-bound instruments, such as futures, to improve efficiency and reduce costs. Gilbertie emphasized that the product is not for long -term investors.
“This is definitely a short-term trade tool-ideal for one day,” he said. “Due to the reset and math … If this asset goes up very slowly or sideways or down, you lose money.”
Teucrium, which manages approx. $ 320 million across 12 ETFs, already planning a reverse XRP ETF, the Teucrium 2x Short Daily XRP ETF, a prospectus shows. This would allow investors to take advantage of the XRP prize fall, although Gilbertie said the company will wait to assess demand before they continue.
