On April 8th, COINOTAG News reported that Teucrium Investment Advisors LLC has inaugurated a leveraged ETF linked to Ripple (XRP). The newly launched Teucrium 2x Long Daily XRP ETF (XXRP) aims to deliver two times the daily returns of the XRP token through a combination of derivatives and commenced trading on Tuesday. This marks a significant milestone as it is the first ETF in the United States specifically focused on XRP, the fourth-largest cryptocurrency by market capitalization, which stands at approximately $111 billion and was developed by Ripple.
In a notable development for the cryptocurrency landscape, the U.S. Securities and Exchange Commission (SEC) recently terminated its lawsuit against Ripple, mirroring the regulatory reprieve enjoyed by companies like Coinbase and Binance following a shift in political leadership. Ripple’s CEO, Brad Garlinghouse, expressed that this outcome has significantly bolstered confidence in their operations.
The launch of the ETF comes during a period of considerable market volatility, as Sal Gilbertie, Founder and CEO of Teucrium, noted the strategic advantage of introducing investments when prices are at lower levels. He emphasized the strong interest from investors in XRP, suggesting that the leveraged structure of their product could further amplify participation.
Additionally, BiyaPay, recognized as the world’s first multi-asset trading wallet, has initiated fiat-to-crypto instant exchanges and facilitates U.S. and Hong Kong stock market access utilizing USDT. Their innovations also include zero-fee trading options, enhancing user engagement while minimizing potential risk linked to traditional transactions.