Teucrium's 2x Long Daily XRP ETF Debuts With $5M Volume, XRP Surges 6%

The first-ever leveraged XRP ETF in the United States, Teucrium’s 2x Long Daily XRP ETF (NYSE Arca: XXRP), made a strong market debut on April 8, 2025. The fund recorded $5 million in trading volume on day one, placing it in the top 5% of all new ETF launches. This performance was deemed respectable, especially considering the current market conditions for digital assets. The ETF aims to deliver twice the daily return of XRP and uses swap agreements referencing European exchange-traded products, given the absence of a U.S.-listed spot XRP ETF.

The debut of the XXRP ETF comes during a period of intense volatility in crypto markets, indicating growing institutional interest in products tied to digital assets like XRP. The fund's opening-day volume was roughly four times higher than that of Volatility Shares’ 2x Solana ETF (SOLT), which launched in March. While XXRP’s performance still trails the $1 billion trading volume seen during the debut of BlackRock’s iShares Bitcoin Trust (IBIT), the Senior ETF Analyst deemed the performance ‘respectable’ given the current climate for digital assets.

Following the ETF’s release, XRP briefly surged nearly 6%, climbing to $1.96 before retreating. Within 24 hours, the token had slipped 3.4%, trading at $1.80 at press time, as macroeconomic uncertainty continued to weigh on sentiment across the market. Despite the pullback, the ETF’s launch has reignited conversations around XRP’s community strength. John Deaton, a lawyer who played a key role in the Ripple v. SEC case, commented on the ETF's debut, pushing back against widespread skepticism and noting that XRP has far more appeal than many in the industry are willing to acknowledge. He pointed to the 75,000 XRP holders who came together to petition the court during the Ripple case, an effort he described as extraordinary.

While the fund’s debut was strong, it may face early headwinds, with Teucrium warning that XRP’s high volatility and declining network usage could present challenges post-launch. The ETF also carries a relatively high management fee of 1.85%. The launch of the XXRP ETF has also sparked discussions about the potential for other asset managers to launch XRP ETFs. While BlackRock has yet to express interest in launching an XRP ETF, other asset managers, including Grayscale and Franklin Templeton, have submitted applications for XRP ETFs. The success of the XXRP ETF could pave the way for more XRP-related investment products in the future, providing investors with additional options to gain exposure to the cryptocurrency.

In conclusion, the debut of the Teucrium 2x Long Daily XRP ETF (XXRP) has been a significant event in the cryptocurrency market. The ETF's impressive trading volume on its first day highlights the strong demand for XRP-related investment products, despite the challenging market conditions. However, investors should be aware of the risks associated with the ETF's leveraged structure and high volatility. The success of the XXRP ETF could also encourage other asset managers to launch XRP ETFs, providing investors with more options to gain exposure to the cryptocurrency.