The Teucrium 2x Long Daily XRP ETF (ticker: XXRP), launched by Teucrium Investment Advisors, began trading today, April 8, 2025, on the NYSE Arca exchange. This is the first exchange-traded fund (ETF) in the U.S. tied to XRP, the cryptocurrency developed by Ripple Labs.
Unlike a traditional spot ETF that directly holds the underlying asset, this is a leveraged product designed to deliver twice the daily price performance of XRP. It uses financial instruments like swap agreements rather than owning XRP outright. This product primarily serves short-term traders and institutional investors with a high-risk appetite.
Teucrium is a financial company that offers commodity-based investment products, primarily through exchange-traded funds (ETFs). Founded in 2009, it focuses on providing investors access to agricultural commodities like corn, wheat, soybeans, and sugar.
Instead of trading futures directly, investors can buy these ETFs to gain exposure to crop prices. For example, if someone believes the price of corn will rise, they might invest in Teucrium’s CORN ETF. The company uses futures contracts to mirror commodity prices, acting as a bridge between traditional investors and the commodities market.
According to the company, the ETF carries a management fee of 1.85% and had already accumulated $2 million in net assets before its debut. Known for its commodity-focused ETFs, Teucrium is now expanding into the crypto space with this offering.
Sal Gilbertie, the founder and CEO of Teucrium, noted that investor interest in an XRP ETF is strong, which suggests a demand from both retail and institutional players who are looking for regulated, easy-to-access vehicles for crypto exposure.
He emphasized the importance of timing, noting that there’s no better moment to introduce a product than when costs are down. This aligns with a classic investment strategy: by launching or investing during a market slump, early stakeholders might seize more substantial gains as the market rebounds.
The recent decline in asset prices, including cryptocurrencies, can be partly attributed to global economic uncertainty. This uncertainty is significantly influenced by U.S. President Donald Trump’s tariffs, which have affected investor sentiment and market stability. These tariffs contribute to global trade tensions, impacting various asset classes, including cryptocurrencies.
Major players like WisdomTree, Bitwise, 21Shares, Canary Capital, Franklin Templeton, and Grayscale have filed applications for spot XRP ETFs. However, no approvals have been granted yet. Predictions market Polymarket currently estimates a 75% chance of spot XRP ETF approval by the end of 2025, buoyed by recent regulatory shifts.
This development follows Ripple Labs’ long legal battle with the SEC, which concluded in March 2025. The SEC dropped its case against Ripple after years of contention over whether XRP qualifies as a security. Ripple settled by paying a $50 million fine.
The resolution, along with a broader easing of SEC enforcement under the current administration, has removed obstacles for XRP-based financial products. The conclusion of the lawsuit has also sparked renewed investor interest in XRP, which now has a market cap of over $100 billion, making it the fourth-largest cryptocurrency.
The XXRP ETF doesn’t rely on U.S.-based XRP futures. However, Coinbase Institutional and Bitnomial plan to launch CFTC-regulated XRP futures in April 2025. Instead, the ETF uses benchmarks like the CME CF XRP-Dollar Reference Rate and European XRP exchange-traded products (ETPs) from firms such as 21Shares and WisdomTree to track XRP’s price.
