After Bitcoin and Ethereum received spot ETF approval, many altcoins applied for ETFs.
One of them was XRP, one of the largest altcoins.
While many companies have applied for ETFs for XRP, the first XRP ETF in the US was launched at the beginning of April.
Accordingly, Teucrium Investment Advisors, an independent ETF issuer, launched a 2x leveraged XRP ETF on NYSE Arca on April 8.
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It was stated that this will pave the way for spot XRP ETF approval while providing ETF investors with greater exposure to the daily movements of XRP prior to spot ETF approval.
Why XRP?
Speaking to Bloomberg after the XRP futures ETF, Teucrium founder and CEO Sal Gilbertie said that XRP is the cryptocurrency with the highest utility.
Describing XRP as the most useful cryptocurrency, Gilbertie emphasized that it has unique value and strong development support.
“We chose XRP because we believe it is the altcoin with the most utility. It is not just speculation; it facilitates real transactions. Ripple consists of a team of real professionals.
“XRP is a tradable asset with a clear function and solid development support.”
Gilbertie emphasized that 2X leveraged XRP ETFs are aimed at short-term investors who want to bet on daily price movements without the need for a margin account.
Bitcoin or XRP?
Teucrium CEO also compared XRP and Bitcoin.
The famous CEO described XRP as a practical tool for transferring value.
“Bitcoin is a real store of value and that’s still true. But XRP has a real use case.”
Beyond trading, the Teucrium CEO said he believes XRP and Ripple are laying the foundations for a broader financial transformation, saying Ripple is moving toward “tokenizing everything.”
*This is not investment advice.
