The 2x Daily XRP Exchange XRP Cotric fund of Teucrium Advisors (XXRP), the first XRP product used in the United States, accumulated $ 5 million in negotiation volume in its debut on Tuesday, becoming one of the “most successful” introductions of the company and publishing a 5% higher performance for a new ETF.
The ETF is designed to deliver XRP daily returns twice through exchange agreements. Without the XRP XRP XRP spot of the appropriate United States, the reference rates of the swaps incorporate several European products quoted in the stock market.
The change in the United States government and its most pro-Crypto position helped take the ETF to the market. The presentation of the ETF took place just after the administration of the Commission of Previous Securities and Securities (SEC) came out, and as soon as the 75 -day standard review period, Teucrium seized the earliest launch window seized.
“We introduced ourselves as soon as we could after the old SEC regime left … we launched today,” said CEO Sal Gilbertie on Tuesday. “I think it’s almost a couple of hundreds of thousands of shares.”
The background saw approximately four times the initial activity of 2x Solana ETF (solt) of the volatility actions, which promoted it to the upper 5%, according to the Bloomberg Etf Eric Balchunas analyst.
“It has been an excellent and very successful release: our most successful launch day to date for any background we have done,” Gilbertie said. “There was an overwhelming emotion … I think they ignored us.”
The ETF gains exposure to XRP through Swaps linked to European XRP ETPs, but you can also use other XRP -related instruments, such as future, to improve efficiency and reduce costs. Gilbertie emphasized that the product is not for long -term investors.
“This is absolutely a short -term negotiation tool, ideally for a day,” he said. “Due to the restart and mathematics … if that asset rises very slowly or side or down, it will lose money.”
Teucrium, which manages approximately $ 320 million in 12 ETF, is already planning an inverse ETF XRP, the ETF XRP Short Diario de Teucrium 2x, shows a prospect. This would allow investors to benefit from XRP price drops, although Gilbertie said the company will wait to evaluate demand before continuing.
