Wall Street’s Crypto Appetite Tested Again With New Altcoin ETF
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Alternative asset manager Teucrium Investment Advisors LLC is launching a leveraged exchange-traded fund linked to cryptocurrency XRP, the asset at the center of a recently ended probe of Ripple Labs Inc. by US regulators.
The Teucrium 2x Long Daily XRP ETF, which aims to use swaps to offer twice the daily return of the XRP token, starts trading on Tuesday, according to the company’s website. The product will be the first ETF of its kind in the US to offer exposure to the fourth-largest cryptocurrency, with a market value of around $111 billion. The ETF will trade under the ticker XXRP and have a 1.85% expense ratio.