Teucrium will run the first open XRP ETF in the US

The Teucrium Investment Advisurs LLC is set to start the first ever subordinate fund for the USA in the United States, after approval by the Securities Commission.

Fund, named Teucrium 2K Long Daily XRP ETF, will start trading on NISE ARCA under Ticker XXRP on Tuesday, April 8, as export would bloomberg. Fund is designed to deliver twice daily return XRP (XRP) By means of an agreement on the Swap.

For example, the ETF will increase by 2% if the XRP increases by 1% and loses twice as much if the KSRP refuses. Will be charging a management fee of 1.89%, according to the company prospectusand is intended for short-term, active investors who have a strong view of the KSRP’s daily price movement.

Teucrium will use several indexes and etps, such as the CSE CF XRP-Dollar reference rate and Corpa KSRP ETPS listed in Europe, such as those from 21Shares, dirt, viddomtree and coinshares, to determine replacement prices. These foreign products will act as the initial measure, because there is currently no room for KSRP ETFS trading in the United States.

Teucrium, a property manager at Vermont, supervised $ 311 million, previously launched BitCoin Futures ETF in April 2022. within the Law on Securities 1933. years, which is familiar with the CRIPTO-CRIPTO-ETF structures. The company also plans to introduce a 2K short diary XRP ETF, giving traders a way to profit from drops of the price XRP.

Bloomberg ETF Analyst Eric Balchunas pointed out 8. April. The KS fast is that it is unusual that the ETF product is used first. He also pointed out that the expectations for the approval of the Venue XRP ETF remain strong, despite not yet available.

This launch comes after breaking laboratories, and the sec recently reached $ 50 million settlementwhich ended a long-lasting legal dispute over the KSRP classification. Using the SEC Regulatory Clarity, General Manager Ripple Brad Garlinghouse showed increasing confidence in the KSRP ETFS.

In an interview on Marjina with Bloomberg, soon after the victory of the regulation, he predicted That Spot XRP ETFS could present in the second half of 2025. years. There is already a number of property managers submit With SEC for Spot XRP ETFS, including capital, canary, 21shares, Visdomtree, Coinshares, Graiscale and Franklin Templeton.