Bloomberg ETF analyst Eric Balchunas has lauded the debut of Teucrium’s 2x Daily XRP ETF ($XXRP) on NYSE Arca, which witnessed $5 million in trading volume on its first day, April 8. Balchunas described this performance as ‘very respectable,’ noting that it placed $XXRP within the top 5% of new ETF launches despite challenging market conditions. His tweet compared the volume to the Solana-based 2x ETF ($SOLT), highlighting that while both saw higher trading than the latter, the volume was significantly lower than the BlackRock iShares Bitcoin Trust (IBIT) which recorded $1 billion on its first day. 2X XRP ETF aims to double Ripple’s daily performance via derivatives tracking, offering leveraged returns for high-risk traders. With a 1.85% expense ratio, it enables speculation on XRP volatility without directly holding the token or using crypto exchanges. Balchunas highlighted that this launch is quite unique, considering it being a leveraged ETF launched before a spot XRP ETF, which still awaits SEC approval. He noted his surprise at this unusual move by Ripple to acquire Hidden Road for $1.25 billion, becoming the first cryptocurrency company to own a multi-asset prime brokerage. 10+ ETFs related to Ripple have been filed, indicating a growing interest from institutional investors. The Teucrium 2x XRP ETF launch has gone well, and analysts are optimistic about its success, potentially even outperforming Solana’s new ETF, in terms of trading volume, as the market takes notice of Ripple’s expansion into traditional finance.