First XRP ETF Launches in the US – Spot ETF Remains Pending for Now

On Tuesday, April 8th, the crypto community celebrated a success: The first XRP-based ETF became tradable in the US. Vermont-based asset manager Teucrium Investment Advisors LLC launched the Teucrium 2x Long Daily XRP ETF (XXRP), a product designed to track twice the daily price performance of XRP.

XXRP – leveraged product for short-term traders

The new ETF launches on April 8th on NYSE Arca and is specifically aimed at investors with strong short-term confidence in XRP. Teucrium explains on its website: “Those with a strong short-term opinion on XRP price movement may consider XXRP.” The management fee is 1.85%, with monthly distributions.

The XRP Leveraged ETF is the first product to enter the US market that tracks XRP in an ETF context – although a spot ETF is still pending. Bloomberg analyst Eric Balchunas calls it “unusual” that the first ETF for a new cryptocurrency is a leveraged product. Nevertheless, he considers the chances of a true spot XRP ETF “quite high.”

Spot XRP ETF remains in the pipeline

In fact, several Spot XRP ETF applications have been filed with the SEC, including by Grayscale, WisdomTree, and Bitwise. The legal knot was recently resolved: Ripple Labs settled a $50 million penalty with the SEC in March, ending the long-running litigation over XRP’s status as a security.

Market reactions and perspective

Analyst Min Jung of Presto Research sees the agreement with the SEC as an important milestone: “The legal hurdles have been removed, increasing the likelihood of spot approval.” Nevertheless, demand remains an uncertainty factor.

“Even Ethereum ETFs have experienced only limited market response,” Jung says. “Many institutional investors continue to rely on Bitcoin as the only true crypto asset.”

Conclusion: XRP ETF is coming – but only with leverage

The launch of the XXRP ETF marks a symbolic step forward for XRP – but for long-term investors, a spot ETF remains the more exciting option. The crypto community is eagerly awaiting the SEC: Is XRP the next big candidate after Bitcoin and Ethereum?

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