Teucrium XRP ETF (XXRP) Launch Coincides with 12% XRP Price Surge Today
- First US XRP ETF (Teucrium XXRP) launched today April 8th, offering 2X long exposure
- XRP price rallies 12 percent to $1.90 coinciding with ETF launch, signaling positive reaction
- Launch seen as bullish catalyst linked to SEC/Ripple progress; spot ETFs also pending
XRP showed renewed strength Tuesday, jumping 12 percent with Teucrium Investment launching the Teucrium 2X XRP ETF (XXRP).
The rebound followed a sharp dip during Monday’s market turmoil.
First US XRP ETF (Teucrium XXRP) Details
XXRP will start trading on the NYSE Arca, even as the U.S. Securities and Exchange Commission (SEC) continues to review various applications for spot XRP ETFs. Interestingly, this debut comes ahead of any standard spot ETF approval, a rare move in the cryptocurrency space where unleveraged spot funds typically lead the charge.
Teucrium’s leveraged ETF comes with a management fee of 1.85%. However, the firm has warned that XRP’s price volatility and declining usage on the Ripple network could pose challenges to the fund’s performance.
“XRP and XRP-related investments are relatively new investments. They are subject to unique and substantial risks and his…
The post Teucrium XRP ETF (XXRP) Launch Coincides with 12% XRP Price Surge Today appeared first on Coin Edition.
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Teucrium XRP ETF (XXRP) Launch Coincides with 12% XRP Price Surge Today
- First US XRP ETF (Teucrium XXRP) launched today April 8th, offering 2X long exposure
- XRP price rallies 12 percent to $1.90 coinciding with ETF launch, signaling positive reaction
- Launch seen as bullish catalyst linked to SEC/Ripple progress; spot ETFs also pending
XRP showed renewed strength Tuesday, jumping 12 percent with Teucrium Investment launching the Teucrium 2X XRP ETF (XXRP).
The rebound followed a sharp dip during Monday’s market turmoil.
First US XRP ETF (Teucrium XXRP) Details
XXRP will start trading on the NYSE Arca, even as the U.S. Securities and Exchange Commission (SEC) continues to review various applications for spot XRP ETFs. Interestingly, this debut comes ahead of any standard spot ETF approval, a rare move in the cryptocurrency space where unleveraged spot funds typically lead the charge.
Teucrium’s leveraged ETF comes with a management fee of 1.85%. However, the firm has warned that XRP’s price volatility and declining usage on the Ripple network could pose challenges to the fund’s performance.
“XRP and XRP-related investments are relatively new investments. They are subject to unique and substantial risks and his…
The post Teucrium XRP ETF (XXRP) Launch Coincides with 12% XRP Price Surge Today appeared first on Coin Edition.
Read More