Wall Street asset manager Teucrium Investment Advisors is launching a leveraged exchange-traded fund that tracks XRP, the crypto tied to Ripple Labs and the center of a years-long battle with U.S. regulators.
The new fund, named the Teucrium 2x Long Daily XRP ETF, is designed to return twice the daily performance of XRP and will begin trading Tuesday under the ticker XXRP, based on details listed on Teucrium’s own site.
The company says this 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 the fund after Ripple’s legal case gets dropped
Teucrium’s ETF filing confirms the company may eventually add XRP futures or other financial products tied to XRP, 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 just weeks after the U.S. Securities and Exchange Commission dropped its case against Ripple Labs, the company behind the creation of XRP.
The legal action had dragged on for years before being abandoned during the current Donald Trump administration, which has pulled back on a number of 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.
Brad Garlinghouse, Ripple’s Chief Executive Officer, said during a Bloomberg TV interview last month that the dropped lawsuit “provides a lot of certainty for Ripple.” Despite that, Ripple and the SEC remain locked in other ongoing litigation.
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 fallout from Trump’s tariff-heavy policies, which triggered a wave of sell-offs across the crypto space.
Sal Gilbertie, Teucrium’s founder and CEO, said during an interview that the current price dip made it a good moment to launch a new product. “What better time to launch a product than when prices are low?” he said. Gilbertie also claimed there has been strong investor interest in XRP, and he believes the leveraged angle will drive even more interest. “You can’t really time it. You just launch when you launch.”
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