First XRP ETF Launches In US Today, XRP Pumps 7%
The XRP price surged 7% as asset manager Teucrium Investment Advisors said it will launch the first-ever XRP ETF (exchange-traded fund) in the US today. The Teucrium 2x Long Daily XRP ETF, which will start trading under the ticker XXRP on the NYSE Arca exchange, aims to not only offer investors an alternative way to gain exposure to the altcoin, but also to give investors twice the daily return of XRP . “If you have a short-term high-conviction view on XRP prices, you may consider exploring the Teucrium 2x Long Daily XRP ETF,” the asset manager said. The fund will include a management fee of 1.85% and an annual expense ratio, according to the alternative investment manager’s website . Distributions will be paid out monthly, and the fund currently has over $2 million in total net assets. Analyst Calls Leveraged Offering “Odd” Bloomberg ETF analyst Eric Balchunas commented on the Teucrium XRP ETF in an April 7 X post, saying it’s “very odd...