Teucrium Investment Advisors has launched the U.S.’s first ever XRP-based exchange-traded fund (ETF), called the Teucrium 2x Long Daily XRP ETF, on NYSE Arca under ticker XXRP. This product aims to double the daily return of XRP, Ripple’s native cryptocurrency, and is available for trading after a debut amidst market uncertainty. The fund utilizes a levered structure, meaning it amplifies both profits and losses, with a management fee of 1.85%. While initially launching with $2 million in net assets, the firm suggests this product could be attractive to investors with specific short-term XRP price views. Teucrium CEO Sal Gilbertie notes market volatility as an opportunity for a leveraged fund launch, highlighting investor demand spurred the creation of XXRP.