XRP ETF Launches: Wall Street’s Latest Crypto Obsession!

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Right, so Teucrium Investment Advisors, those clever beans, have gone and launched the first-ever leveraged XRP ETF in the U.S. 🎉 Because, of course, what the world needs right now is *more* ways to gamble on crypto. The fund, hilariously named the Teucrium 2x Long Daily XRP ETF (because why not make it sound like a gym supplement?), will start trading today on NYSE Arca under the ticker XXRP. Because, you know, one XRP just wasn’t enough.

Now, here’s the kicker: this ETF isn’t actually buying XRP. Nope. Instead, it’s using something called “total return swap agreements” to get synthetic exposure. Basically, it’s like betting on a horse race by watching it on TV and shouting at the screen. 🐎📺 The fund’s prospectus, filed with the SEC (because they’re *totally* into this), says it’ll rely on a mix of third-party XRP benchmarks and European-listed ETPs. Because, obviously, the U.S. can’t figure out spot ETFs yet. 🙄

Oh, and the management fee? A cool 1.85%. Because why not charge an arm and a leg for something that’s already complicated enough to make your head spin? 🤑

Meanwhile, the SEC has quietly certified the fund, which is basically their way of saying, “We’re not *not* okay with this.” Teucrium, a CFTC-regulated firm with $311 million in assets, is best known for its agricultural ETFs. Because nothing says “crypto” like corn futures. 🌽 They’re also working on a bearish counterpart, the Teucrium 2x Short Daily ETF, for those who enjoy losing money twice as fast. 🐻

This launch comes as the U.S. Senate Banking Committee voted 13 to 11 to advance the nomination of Paul Atkins as the new SEC chair. Because, you know, what the crypto world needs is *more* regulation. 🏛️

Ripple CEO Brad Garlinghouse, ever the optimist, recently said he expects multiple ETFs to launch in the U.S. by the second half of 2025. Because, of course, the crypto world moves at the speed of molasses. 🐌 Major asset managers like Bitwise, 21Shares, and WisdomTree are already lining up to file for spot XRP ETFs. And let’s not forget the potential for BlackRock and Fidelity to jump on the bandwagon. Because nothing says “mainstream” like Wall Street getting involved. 🏦

At press time, XRP was trading at $1.90. Which, let’s be honest, is probably going to change by the time you finish reading this. 📈📉

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2025-04-08 15:12