Teucrium Unveils First XRP Leveraged ETF Amid Regulatory Changes

In a significant milestone for the cryptocurrency investment landscape, Vermont-based asset manager Teucrium Investment Advisors LLC is set to debut the first U.S.-listed exchange-traded fund (ETF) based on the digital currency XRP. Breaking new ground, this launch not only marks a historical moment for XRP but also draws attention due to the structure of the product itself – a leveraged ETF, rather than the more commonly anticipated spot version.

Scheduled to begin trading on April 8 on the NYSE Arca exchange, the Teucrium 2x Long Daily XRP ETF (ticker: XXRP) aims to deliver double the daily performance of XRP, the world’s fourth-largest cryptocurrency by market capitalization. With a 1.85% management fee and monthly distributions, the fund specifically targets investors seeking amplified exposure to XRP’s short-term price movements. As Teucrium noted on its website, “If you have a short-term high-conviction view on XRP prices, you may consider exploring the Teucrium 2x Long Daily XRP ETF.”

The introduction of this product has stirred conversation across financial circles, particularly because leveraged ETFs are typically introduced after a spot version of the asset has been approved. As Eric Balchunas, Senior ETF Analyst at Bloomberg, highlighted in a post on X (formerly Twitter): “A 2x XRP ETF is launching [tomorrow] in the U.S., 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, [although] our odds are pretty high.”

Indeed, Teucrium’s fund stands out as the only XRP-related product currently listed on the Depository Trust and Clearing Corporation’s (DTCC) comprehensive roster of active and pre-launch ETFs. That distinction underscores how much of a first-mover this ETF is — staking its place not only as a pioneering XRP product but also as a uniquely structured one.

This development emerges in the context of a gradually shifting regulatory atmosphere for cryptocurrency assets in the United States. Over recent months, several prominent issuers — including Grayscale, WisdomTree, and Bitwise — have submitted filings with the U.S. Securities and Exchange Commission (SEC) to launch spot XRP ETFs. These applications align with a broader momentum seen across the digital asset space, partially propelled by a friendlier regulatory tone during the Trump administration’s crypto-related directives.

And while those spot ETF filings are still under SEC review, the pace appears to be picking up. Earlier in the year, the Commission formally acknowledged several XRP spot ETF applications, a move that many interpret as a sign the review process is taking meaningful steps forward. However, it’s not just regulatory interest that’s lifting the optimism around XRP ETFs — the end of a major legal face-off has also cleared a significant roadblock.

Last month, Ripple Labs — the blockchain-based payments company that created and supports XRP — reached a settlement with the SEC. This settlement resolved a long-standing legal dispute over whether XRP should be classified as a security. Following an extended battle, Ripple agreed to pay a $50 million penalty, a marked reduction from the original $125 million the agency had imposed as of August. This legal closure has dramatically shifted the outlook for XRP’s suitability within regulated financial products, including ETFs.

“With the SEC dropping its appeal, a key legal hurdle is out of the way, making XRP ETF approval more likely,” explained Min Jung, a research analyst at Presto Research. Reflecting on the broader landscape, Jung added, “If any new spot ETFs are approved after Bitcoin and Ethereum, XRP or Solana are strong contenders.”

Still, even as legal and regulatory barriers begin to fall, questions around investor appetite remain unresolved. Jung voiced caution: “Ethereum ETFs have seen limited traction, and institutions still largely believe ‘there is no second best,’” referring to the prevailing institutional preference for Bitcoin as the dominant crypto asset in portfolios. This sentiment suggests that even if a spot XRP ETF were to gain approval, its reception in the marketplace might not match the scale or enthusiasm seen with Bitcoin derivatives.

As for the present state of XRP itself, its price movements continue to exhibit notable resilience. According to XRP price page, as of 11:00 p.m. ET on Monday, the cryptocurrency was trading at $1.91, reflecting a 0.64% gain over the previous 24 hours. Such incremental upticks, while modest, keep interest in the asset alive among speculative traders and institutional watchers alike.

Ultimately, Teucrium’s launch of the XXRP ETF carves out a new chapter for crypto-based financial products in the United States. It underscores both the complexity and the opportunity characterizing the current environment: regulators growing more engaged, legal uncertainties waning, yet market demand for non-Bitcoin digital assets still coming into focus. While the road to widespread adoption of XRP ETFs — especially spot versions — may still face headwinds, today’s step forward signals that the market is evolving, one innovative fund at a time.