Vermont-based Teucrium Investment Advisors LLC has announced the launch of the first XRP ETF in the US, which will start trading on NYSE Arca.
Launch of the First XRP ETF
Teucrium Investment Advisors LLC is launching its 2x Long Daily XRP ETF (XXRP) on Tuesday, April 8. This ETF is designed to provide results that correspond to twice the daily price performance of XRP, which is the world's fourth-largest cryptocurrency by market capitalization.
Prospects for Approval of Other ETFs
Other US companies like Grayscale, WisdomTree, and Bitwise have also filed applications for XRP ETFs that are currently under review by the Securities and Exchange Commission (SEC). Analysts note that the likelihood of spot XRP ETFs being approved this year has increased following the recent settlement between Ripple and the SEC.
Demand Analysis for XRP ETFs
Despite the launch of XXRP, demand for such ETFs remains uncertain. Some experts, including Min Jung of Presto Research, point out that there is limited interest from institutional investors in this segment.
The launch of the first XRP ETF in the US may be an important step for the cryptocurrency market; however, its success will depend on investor demand and further SEC decisions.
