U.S.-based asset manager Teucrium Investment Advisors will launch a 2x leveraged XRP exchange-traded fund (ETF) on April 8, according to the company’s website.
The XXRP ETF, based on the native token of stewards, Ripple Labs, will be listed on NYSE Arca.
Bloomberg Senior ETF Analyst Eric Balchunas noted the unusual nature of the launch via X on Monday.
“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,” he wrote.
The fund is designed to provide twice the daily performance of Ripple’s XRP token and is intended for short-term trading. Teucrium will charge a management fee of 1.85%.
In its fund literature, Teucrium cited volatility and declining usage as risks that could negatively impact the ETF’s performance.
The debut comes amid a wave of spot XRP ETF applications still under review by the U.S. Securities and Exchange Commission (SEC).
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