Teucrium Investment Advisors has launched the first-ever leveraged exchange-traded fund (ETF) tied to XRP in the United States. The fund, officially titled the Teucrium 2x Long Daily XRP ETF, will begin trading today on NYSE Arca under the ticker XXRP.
Leveraged XRP ETF Makes US Debut
The ETF is structured to deliver twice the daily return, using synthetic exposure through swap agreements rather than direct spot market purchases. According to the prospectus filed with the US Securities and Exchange Commission (SEC), the fund will not invest directly in XRP or XRP futures contracts. Instead, it gains exposure through “total return swap agreements” referencing a calculated daily value based on a mix of third-party XRP benchmarks and European-listed exchange-traded products (ETPs).
While US-listed spot ETFs remain unavailable, the fund’s swap pricing methodology relies on internationally traded instruments. These include the 21Shares ETP, Bitwise Physical ETP, Virtune ETP, WisdomTree Physical ETP, and CoinShares Physical ETP. Additionally, the CME CF XRP-Dollar Reference Rate and the CME CF XRP-Dollar Real Time Index are used as part of the valuation framework, ensuring alignment with institutional benchmarks.
Teucrium has set a management fee of 1.85%, placing it at the higher end of the cost spectrum among crypto-linked ETFs, a reflection of the fund’s complex structure and reliance on multiple synthetic reference instruments.
The SEC’s quiet certification of the fund’s registration and NYSE Arca’s approval of its listing indicate a growing regulatory comfort with derivative-based crypto products, even as spot ETFs remain under review. Teucrium, a CFTC-regulated firm with $311 million in assets under management, is best known for its commodity ETFs, particularly in agricultural markets. It previously broke ground with the Teucrium Bitcoin Futures Fund, one of the first Bitcoin ETFs approved under the Securities Act of 1933.
The company is also preparing a bearish counterpart —the Teucrium 2x Short Daily ETF—which would offer leveraged inverse exposure to daily price declines. That product remains in the registration pipeline, according to the firm’s filings.
The launch occurs amid heightened momentum for spot altcoin ETFs in the United States. On April 3, the US Senate Banking Committee voted 13 to 11 to advance the nomination of Paul Atkins as the new chair of the Securities and Exchange Commission (SEC).
Ripple CEO Brad Garlinghouse recently said in an interview he expects multiple ETFs to launch in the US by the second half of 2025. A wave of filings from major asset managers including Bitwise, 21Shares, WisdomTree, CoinShares, and Franklin Templeton have hit the SEC, all seeking SEC approval for spot XRP ETFs.
The potential for market giants like BlackRock and Fidelity to follow suit has not gone unnoticed. Nate Geraci, President of The ETF Store, remarked that he expects both investment giants to follow suit.
At press time, XRP traded at $1.90.
Featured image created with DALL.E, chart from TradingView.com
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