The first-ever XRP exchange-traded fund (ETF) product is set to go live for trading on the New York Stock Exchange today. Managed by Teucrium Investment Advisors, the double-leveraged ETF with XRP coin as the underlying asset can be found under the ticker symbol $XXRP.
XRP Spot ETF Coming Up Next?
A few ETF market analysts stepped in to offer their insights, congratulating the OG altcoin’s holder community, popularly known as XRP Army, with the regulatory win. For instance, Bloombergโs Eric Balchunas noted that itโs โvery oddโ for the first ETF to be leveraged, but also claimed the odds of a regular XRP Spot ETF are โpretty highโ.
Indeed, the same sentiment after the XRP news is shared by bettors on Polymarket, as 75% of market participants agreed that the altcoin ETF is most likely to be approved by the end of 2025. Interestingly, 33% of voters think an XRP ETF is going to be approved by the U.S. Securities and Exchange Commission (SEC) next summer, by July 31, 2025.
XRP ETF Ignites 7% Bounce Back
The fact sheet on the freshly-launched product clearly states that โthere is no guarantee that usage will growโ, while steadily reducing trading volume is known to increase price volatility. However, the high conviction pitch acknowledges Ripple coin as โan innovation with a limited historyโ, with regulatory developments and technological advancements as catalysts for the altcoin’s sustainability.
The news of a 2X leveraged XRP Ripple ETF product has restored some optimism after a horrendous Monday crypto & stock market cash, pushing Ripple below $1.65 for the first time since November, 2024. Today, the popular cross-border altcoin is back at $1.86, edging towards the $2 confluent resistance line.
With a trading volume of nearly $10 billion on Tuesday, the OG altcoin outpaced Solana (SOL) by $2 billion, while the yearly returns on XRP are still at 207% despite the recent downswings. Nevertheless, key real-time metrics like the Chaikin Money Flow (CMF) are still flashing in a negative direction at -0.18, signaling that the crypto bears havenโt retreated just yet.
On The Flipside
- According to the prospectus, the fund wonโt be directly investing in XRP, but rather gain exposure through swap contracts with global financial institutions partnering with Rippleโs network.
Why This Matters
Regulatory victories bridge the gap between digital assets and traditional stock markets, gaining more exposure and transparency for the underlying asset.
Discover DailyCoinโs popular crypto news:
Shibarium Hits 1B BONE Transfers, But Shiba Inu Price Stagnates
Bitcoin Price Slides Below $75K as Crypto Liquidations Hit Hard
