Wall Street asset management firm Teucrium Advisors has launched a leveraged exchange-traded fund that tracks the price of Ripple’s native token, XRP.
The new fund, Teucrium 2x Long Daily XRP ETF, is designed to return twice the daily performance of XRP and will begin trading on Tuesday under the XXRRP ticker, according to details on the company’s website. The company says it will be the first ETF in the U.S. to offer leveraged exposure to XRP, the fourth-largest crypto by market cap, currently valued at about $111 billion. The product comes with a 1.85% expense ratio.
Teucrium opens XRP fund after SEC drops Ripple lawsuit
According to the ETF filing, Teucrium mentioned that it may add XRP futures or any other financial products tied to the token if the firm finds it appropriate. At the moment, there are no XRP futures actively trading on any major U.S. commodities exchange. The launch comes weeks after the United States Securities and Exchange Commission dropped its case against Ripple, the parent company of XRP.
The legal action had dragged on for years before being abandoned during the current Donald Trump administration, which has pulled back on several crypto enforcement efforts since returning to the White House. These rollbacks have included cases against Coinbase and Binance, which were both tossed in recent months. In a recent interview last month, CEO of Ripple Brad Garlinghouse said that the dropped lawsuit provides a lot of certainty for Ripple.”
Crypto markets as a whole have taken a hit since Trump’s election victory, with many of the gains made during the bull market now wiped out. Traders point to the fallout from Trump’s tariff-heavy policies, which triggered a wave of sell-offs across the crypto space. Teucrium CEO Sal Gilbertie also mentioned that the current drop in the asset’s price made it a good moment to launch it. “What better time to launch a product than when prices are low?” he said. He mentioned that there has been strong demand for XRP and the leveraged angle will drive more interest.