Asset manager Teucrium Investment Advisors is set to launch the first XRP-based exchange-traded fund in the US markets, a leveraged XRP (ETF) on the NYSE Arca.
The Teucrium 2x Long Daily XRP ETF will seek to offer investors two times the daily return of the XRP (XRP) token with a 1.85% management fee and annual expense ratio, according to the company’s website. The XRP-based ETF will trade under the XXRP ticker beginning April 8.
“If you have a short-term high-conviction view on XRP prices, you may consider exploring the Teucrium 2x Long Daily XRP ETF,” the alternative asset manager said.
XXRP currently has $2 million worth of net assets.
Details of Teucrium’s soon-to-be-launched XXRP ETF. Source: Teucrium
Teucrium founder and CEO Sal Gilbertie told Bloomberg on April 7 that investors had shown strong interest in