Teucrium’s 2X XRP ETF: The Underdog Triumphs Over Solana! 🎉

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Ah, dear reader, gather ’round as we delve into the curious tale of Teucrium’s 2X Daily XRP ETF, which made its grand entrance onto the NYSE Arca stage with a flourish and a staggering $5 million in trading volume on that fateful day, April 8. One might say it was a performance worthy of a standing ovation, or at least a polite nod from the audience. 🎭

Our esteemed Bloomberg ETF analyst, the ever-astute Eric Balchunas, took to the digital ether to declare this debut “very respectable.” Indeed, it seems that in the chaotic circus of the market, XXRP has managed to waltz its way into the top 5% of new ETF launches. Quite the feat, considering the market conditions were about as welcoming as a cat at a dog show! 🐱🐶

“$XXRP (2x XRP ETF) saw $5mil in volume on Day One, very respectable, esp considering the mkt conditions. That puts it in approx top 5% of new ETF launches, and about 4x what the 2x Solana ETF $SOLT did (altho both 200x less than King IBIT).”
— Eric Balchunas (@EricBalchunas) April 8, 2025

But wait! There’s more! Balchunas, with a twinkle in his eye, pointed out that XXRP’s volume was a whopping four times greater than that of the 2X Solana ETF ($SOLT). However, both of these fledgling ETFs were left in the dust by the mighty BlackRock iShares Bitcoin Trust (IBIT), which raked in a jaw-dropping $1 billion on its first day—200 times more than our dear XXRP. Talk about a heavyweight champion! 🥊

This ETF, designed to double Ripple’s daily performance, is a daring venture into the world of derivatives, promising leveraged returns for those brave enough to dance with risk. With a 1.85% expense ratio, it offers a tantalizing opportunity to speculate on XRP’s volatility without the hassle of actually holding the token or navigating the treacherous waters of crypto exchanges. What a time to be alive! 💸

“A 2x XRP ETF is launching tmrw in US, the first-ever XRP ETF on the market. Very odd (maybe a first) that a new asset’s first ETF is leveraged. Spot XRP still not approved, altho our odds are pretty high. Story via ⁦⁦@isabelletanlee⁩”
— Eric Balchunas (@EricBalchunas) April 7, 2025

In a moment of delightful irony, Balchunas found it “very odd” that a leveraged ETF would debut before a spot XRP ETF, which remains in the SEC’s purgatory of approval. Ah, the bureaucratic ballet continues! 💃

Meanwhile, Ripple has been making waves of its own, having acquired Hidden Road for a staggering $1.25 billion, thus becoming the first cryptocurrency company to own a multi-asset prime brokerage. This bold move, coupled with over 20 ETF filings related to Ripple, signals a burgeoning interest from institutional investors. Who knew finance could be so thrilling? 🎢

As the Teucrium 2x XRP ETF takes its first steps, analysts are rallying behind it, suggesting that confidence in Ripple’s role in the crypto realm is on the rise. It appears to be outpacing even the likes of Solana’s ETF. A true underdog story, if ever there was one!

Indeed, this feels like a significant milestone for Ripple as it boldly strides into the hallowed halls of traditional finance, leaving a trail of bewildered onlookers in its wake. Onward and upward, dear Ripple! 🚀

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2025-04-09 09:25