Teucrium to Launch First-Ever 2x XRP ETF in the U.S.

Highlights:

• Teucrium launches the first XRP-based ETF in the U.S., offering double daily returns.
• Teucrium uses European XRP ETPs as benchmarks due to a lack of U.S. spot ETFs.
• Bloomberg analysts predict high chances of SEC approving a spot XRP ETF this year.

​Teucrium Investment Advisors is launching the first XRP-based exchange-traded fund (ETF) in the U.S., the Teucrium 2x Long Daily XRP ETF, on April 8. This leveraged ETF aims to provide investors with double the daily return of XRP, the cryptocurrency associated with Ripple Labs. It will trade under the ticker XXRP on the NYSE Arca exchange. The exchange has confirmed its approval for the listing and registration of the fund.

“If you have a short-term high-conviction view on XRP prices, you may consider exploring the Teucrium 2x Long Daily XRP ETF,” the alternative asset manager said. The fund will charge a 1.89% management fee, according to the prospectus.

Teucrium to Use European ETPs for XRP Swap Pricing

Teucrium will use multiple indices and ETPs to determine the price of swaps. These include the CME CF XRP-Dollar Reference Rate and a selection of XRP ETPs listed in Europe. The European products come from firms like 21Shares, Bitwise, WisdomTree, and CoinShares. These will serve as the initial benchmarks for the swaps. Currently, there are no spot XRP ETFs trading in the United States, which is why these foreign products are being used.

Teucrium founder and CEO Sal Gilbertie shared with Bloomberg on April 7 that investors had shown strong interest in an XRP ETF. He also hinted that the company might file to list more crypto ETFs in the future. Gilbertie expressed satisfaction that the XXRP ETF would launch during a market downturn, mainly caused by US President Donald Trump’s tariffs. He stated, “What better time to launch a product than when prices are low?” in his conversation with Bloomberg.

At press time, XRP was trading at $1.94, showing a 9% increase in the last 24 hours, according to CoinMarketCap. This launch follows Ripple Labs’ $50 million settlement with the SEC. The settlement ended a long legal dispute over XRP’s classification. With the SEC’s regulatory clarity, Ripple CEO Brad Garlinghouse is now more confident in XRP ETFs.

Approval is on the Horizon

Bloomberg ETF analyst Eric Balchunas found it “very odd” to see a new asset’s first ETF launch in a leveraged form. However, he noted that the chances of a spot XRP ETF being approved remain “pretty high.”

A 2x XRP ETF is launching tmrw in US, the first-ever XRP ETF on the market. Very odd (maybe a first) that a new asset’s first ETF is leveraged. Spot XRP still not approved, altho our odds are pretty high. Story via ⁦⁦@isabelletanlee⁩ pic.twitter.com/Eg4Wq5Y1Qi

— Eric Balchunas (@EricBalchunas) April 7, 2025

Several spot XRP ETF applications are currently under review by the Securities and Exchange Commission. These include submissions from companies like Grayscale, Bitwise, Franklin Templeton, Canary Capital, and 21Shares. In February, Balchunas and fellow Bloomberg ETF analyst James Seyffart estimated a 65% chance of a spot XRP ETF approval in 2025. According to the predictions market Polymarket, there is currently a 75% chance that the SEC will approve a spot XRP ETF in 2025.