First Leveraged XRP ETF Debuts on NYSE With 2x Exposure
- Teucrium launches XXRP, the first-ever XRP ETF, with 2x daily leverage.
- The product begins trading today on NYSE Arca as XRP trades near $1.90.
- One analyst anticipates more crypto "firsts" throughout 2025.
XRP investors now have a new way to amplify their exposure to the fourth-largest cryptocurrency without directly holding the digital asset itself: the Teucrium 2x Long Daily XRP ETF (XXRP).
Teucrium Trading launched XXRP today on the NYSE Arca exchange, marking the first time a leveraged cryptocurrency product has introduced a new crypto subcategory to the ETF market.
The new ETF seeks to provide double the daily performance of XRP, the native cryptocurrency of the XRP Ledger, which currently trades at approximately $1.90 with a market capitalization of $110.9 billion.
"XRP has established itself as a key player in the digital asset space, and XXRP provides a unique opportunity for investors to capitalize on its potential with a leveraged strategy, all within the familiar structure of an ETF," according to the company's press release.
The launch of XXRP arrives amid surging interest in cryptocurrencies, fueled by increasing adoption and technological advancements in blockchain networks like the XRP Ledger, potentially accelerating the timeline for more crypto-based financial products, the release noted.
A New Chapter for Teucrium
Teucrium, primarily known for its agricultural and commodities ETFs, is expanding its offerings into the cryptocurrency space with this new product. The company also provides white-label ETF services that allow partners to create customized ETF products, according to the release.
According to Teucrium's fact sheet, the fund employs swap agreements and futures contracts to achieve its leveraged exposure without directly purchasing XRP. PINE Distributors will serve as the distributor for the XXRP ETF.
Eric Balchunas, senior ETF analyst at Bloomberg, highlighted the significance of the launch in an X post, stating that this represents "first time a new sub-category is kicked off by a leveraged product." He predicted more "first-evers" in the ETF space throughout 2025.
Teucrium CEO Sal Gilbertie noted in the press release that the company aimed for a memorable ticker symbol: "We're proud that we once again have an easy to remember ticker. Double exposure to XRP is as simple as double 'X'-RP."
