2025-4-9 02:00 |
The first XRP exchange-traded fund (ETF) in the US recorded a “terrific response” on its opening day, according to Teucrium CEO Sal Gilbertie.
Speaking on the Crypto Prime podcast, Gilbertie called the debut Teucrium’s most successful ETF launch to date in terms of first-day activity.
The New York Stock Exchange (NYSE) has approved listing a new exchange-traded fund tied to XRP. The Teucrium 2x Long Daily XRP ETF (XXRP) launched on April 8 and is designed to deliver twice the daily performance of XRP through swap contracts.
Gilbertie said the fund’s registration went largely unnoticed initially, as it was the only XRP ETF to file with a ticker.
The approval process began shortly after changes in US Securities and Exchange Commission (SEC) leadership, which Gilbertie described as a shift toward a more constructive regulatory posture on crypto.
Product structure targets active tradersThe ETF is designed as a 2x leveraged trading instrument with daily resets. Gilbertie said the fund is not intended as a long-term holding vehicle and warned that it may lose value during sideways or slow-moving markets due to compounding effects inherent in leveraged daily-reset products.
Gilbertie said the fund is aimed at aggressive traders who are bullish on XRP but do not have access to leverage through traditional margin accounts. Unlike spot crypto ETFs, XXRP does not hold the asset itself and instead tracks XRP’s daily performance through derivatives.
He added that retail investors on platforms like Robinhood can now access leveraged exposure through the ETF wrapper without a margin account’s operational or regulatory requirements.
A potential inverse product has also been filed, but Teucrium has opted not to launch it immediately while monitoring investor appetite.
The firm remains open to expanding its crypto ETF offerings if it meets investor needs and aligns with its strategy of providing specialized tools through regulated structures.
Regulatory conditions and timingGilbertie emphasized that the launch followed the expiration of the mandatory effectiveness window, which was calculated from the time of filing under the Securities Act of 1933.
He attributed the successful registration and approval to the procedural consistency and rule adherence enforced under the new SEC regime. He added that the previous leadership had been more adversarial toward crypto-related filings, discouraging innovation and introducing regulatory uncertainty.
Teucrium was one of the first firms to file for a Bitcoin (BTC) ETF but was forced to withdraw its application under SEC pressure. It later refiled when the market for Bitcoin futures matured.
Gilbertie said that the firm’s role in establishing the precedent for crypto ETFs also formed the basis of legal arguments in subsequent ETF litigation.
The XRP ETF currently gains exposure to the asset through swaps tied to European-listed XRP exchange-traded products. Gilbertie said Teucrium would consider alternative instruments, including futures if they become available.
The ETF’s design permits exposure to any instrument with XRP-linked price action based on what is most efficient in terms of liquidity and cost.
Outlook for XRPGilbertie expressed personal support for XRP, citing its utility in facilitating rapid cross-border payments and its adoption by institutions building infrastructure for near-instantaneous settlement.
He referenced Ripple’s recent acquisition of Hidden Road and said it may enable integrated prime brokerage services that reduce traditional financial settlement timelines.
Gilbertie described XRP as a “tool” rather than a store of value like Bitcoin, contrasting its role as a transactional protocol with BTC’s function as digital gold. He noted that XRP is well-distributed, operates within a regulatory framework, and is supported by a team committed to compliance.
Teucrium’s ETF structure provides a regulated entry point for exposure to the asset. At the same time, Gilbertie believes that XRP and similar protocols will increasingly serve as infrastructure for faster financial settlement in capital markets.
Gilbertie concluded that while Bitcoin should be viewed as a portfolio stabilizer and long-term store of value, XRP and other networks such as Ethereum (ETH) and Solana (SOL) should be evaluated as technology platforms.
He said the ETF’s launch reflects both a maturing regulatory environment and a growing interest in diversified crypto investment instruments.
The post First US-traded XRP ETF had ‘a terrific response’ on launch day, says Teucrim CEO appeared first on CryptoSlate.
origin »EthereumFog (ETF) на Currencies.ru
|
