Teucrium Investment Advisors is set to launch the first XRP-based exchange-traded fund (ETF) in the US, specifically a 2x leveraged XRP ETF, on NYSE Arca. The Teucrium 2x Long Daily XRP ETF will trade under the ticker XXRP starting April 8, seeking to provide investors with double the daily return of XRP, which has shown a price change of 6.49% in the past 24 hours. This ETF will have a management fee of 1.85% and aims to attract investors with a strong belief in XRP's short-term price increases. Teucrium's CEO noted that they experienced high investor interest and plans to explore additional crypto ETF listings. Amid the current downturn of the market, launching the ETF is seen as an opportune moment. The likelihood for an approved spot XRP ETF is also considered high according to analysts, with several pending applications currently under SEC review. Previously, the status of XRP had been contentious due to a legal battle with the SEC, which recently concluded in favor of Ripple Labs, creators of the XRP token. Teucrium, founded in 2010, has over $310 million in assets under management and mainly focuses on agricultural ETFs.

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