Key Takeaways
The new leveraged XRP ETF by Teucrium, symbol XXRP, achieved $5M volume on debut.
The ETF offers 200% daily exposure to XRP’s price and is intended for short-term trading.
Share this article
The first US leveraged XRP ETF, Teucrium’s 2x Long Daily XRP ETF, was off to a strong start with around $5 million in day-one trading volume — a figure that places it in the top 5% of all new ETF launches, according to Bloomberg ETF analyst Eric Balchunas.
The fund, trading under the ticker XXRP, drew roughly four times the debut activity of Volatility Shares’ 2x Solana ETF (SOLT), Balchunas noted.
$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). pic.twitter.com/u3QQq5yuHv
— Eric Balchunas (@EricBalchunas) April 8, 2025
The SOLT fund launched on March 20 alongside the Volatility Shares Solana ETF (SOLZ) as one of the first Solana futures ETFs in the US.
The 2x Long Daily XRP ETF, launched by Teucrium Investment Advisors on April 8, aims to offer double the daily returns of XRP using swap agreements.
Reference rates for the swaps now include several European Exchange Traded Products due to the absence of suitable US-listed spot XRP ETFs.
The company, known for its commodity ETFs, is expanding its crypto offerings, following its previous Bitcoin futures ETF launch.
“A terrific, very successful launch”
The leveraged ETF is Teucrium’s most successful ETF launch to date, said Sal Gilbertie, CEO of Teucrium, in a Tuesday interview with Crypto Prime’s Nate Geraci.
“It’s been a terrific, very successful launch — our most successful launch day to date for any fund we’ve ever done,” said Gilbertie. “There was overwhelming excitement… I think a lot because we were overlooked.”
Teucrium filed for the product shortly after the previous SEC administration stepped down, and with the standard 75-day window having elapsed, the fund launched at the first available opportunity.
“We filed as soon as we could after the old SEC regime left… we launched today,” Gilbertie said. “I think it’s almost at a couple hundred thousand shares.”
The ETF currently gains exposure to XRP through swaps based on European XRP ETPs, though it has the flexibility to hold other XRP-linked instruments, including futures when available, to optimize efficiency and costs.
Importantly, the product is not designed for buy-and-hold investors, Gilbertie added.
“This is absolutely a short-term trading tool — ideally for one day,” Gilbertie said. “Because of the reset and the math… if that asset goes up very slowly or sideways or down, you will lose money.”
Still, for aggressive traders, the appeal is there.
“It’s pretty hard to get leverage [on XRP], and these 2X products… make it easy,” he said. “Ordinary people with their Robinhood account can sit there and trade one share with leverage.”
The launch comes amid what Gilbertie describes as a more crypto-friendly regulatory environment.
“Prior to the new SEC, the old SEC was an impediment. They crushed innovation, they were an enemy of cryptocurrencies,” he said, noting that under new leadership, the review process for XXRP was relatively smooth.
“They didn’t look for an impediment… they simply made sure that we were adhering to the rules and regulations,” he said.
Teucrium eyes an inverse XRP ETF
Teucrium, which manages about $320 million across 12 ETFs, has already filed for an inverse XRP ETF called the Teucrium 2x Short Daily XRP ETF, according to its prospectus materials.
Leveraged inverse ETFs would allow investors to potentially profit as XRP prices decline. However, Gilbertie said the firm is holding off on launching until it gauges investors’ appetite.
Teucrium also left the door open to future crypto-related products.
“We’re an ETF company… we’re willing to do any ETF that we think is going to provide an extra tool for investors,” he said.
On crypto’s broader role in a portfolio, Gilbertie drew a clear distinction between Bitcoin and other assets.
“I think there’s Bitcoin and there’s everything else,” he said. “Bitcoin is digital gold — it should be in your portfolio to stabilize it.”
As for assets like XRP, Ether, or Solana, he said they resemble technology platforms.
“They’re systems, they’re technological systems… they should be priced like technology,” he said. “And when Ripple goes public… my guess is they’re going to be valued as technology stocks.”
Share this article
