Teucrium Investment Advisors announced the launch of the first leveraged XRP ETF in the US, aimed at providing double daily returns for investors. This event may signal growing integration of crypto derivatives into traditional finance.
Launch of the First Leveraged XRP ETF
Teucrium Investment Advisors has introduced a leveraged XRP ETF that aims to deliver double daily returns through swap agreements. This step followed changes in SEC leadership and, lacking available equivalents in the US market, Teucrium opted for swaps referencing European products.
Initial Results and Investor Interest
The leveraged ETF by Teucrium, named 'Teucrium 2x Long Daily XRP ETF', debuted with a notable trading volume of $5 million, placing it among successful ETF launches. The product provides retail investors with new opportunities to participate in the dynamic XRP market.
Impact on the XRP Market
According to CoinMarketCap, the current value of XRP is $2.28, with a market cap of $133.19 billion. The 24-hour trading volume reached $4.12 billion, with a notable increase of 50.98%. XRP has seen a 7.48% rise over the past week, despite a 26.99% decline in the last three months. The ETF launch could significantly enhance XRP's visibility and attract institutional investors.
The launch of Teucrium's first leveraged XRP ETF may mark a significant milestone in the world of crypto assets, indicating a potential expansion of interest from both retail and institutional investors.
