Bloomberg: New altcoin ETFs are launched, Wall Street's enthusiasm for crypto investment is once again facing a test

Odaily Planet Daily News Alternative asset management company Teucrium Investment Advisors LLC officially launched a leveraged ETF linked to the cryptocurrency XRP, which is the first product in the U.S. market to provide such exposure. XRP is the world's fourth largest cryptocurrency by market value, with a market value of approximately $111 billion, and is also the core asset in the recent investigation of Ripple Labs Inc. by U.S. regulators. According to Teucrium's official website, this product called "Teucrium 2x Long Daily XRP ETF" will achieve a leveraged return of twice the daily return of XRP through swap contracts, and will be officially listed on the trading platform on Tuesday, with the trading code XXRP and an annualized expense rate of 1.85%. The launch of this product marks another bold attempt by traditional financial institutions to deploy crypto assets, and also reflects the market's growing attention to the potential of XRP. It is worth mentioning that there is currently no active XRP futures contract trading on mainstream commodity trading platforms in the United States, but Teucrium stated in the fund prospectus that XRP futures and other financial instruments that can provide exposure to the asset may be included in the future. Founded in 2010, Teucrium currently manages $311 million in assets and owns 12 ETFs covering a variety of alternative markets. (Bloomberg)