Latest news with #XXRP
Yahoo
29-04-2025
- Business
- Yahoo
ProShares: No New XRP ETFs on April 30 Despite Reports
Despite reports that ProShares is planning to launch three exchange-traded funds tracking the prices of XRP-based futures on April 30, the company confirmed to that's not happening—yet. On Monday, a ProShares spokesperson told the firm 'does not have any ETF launches scheduled for Wednesday, April 30. We have no further news to share at this time.' This follows an SEC filing from January 17, which included details about an Ultra XRP ETF seeking 2x leverage, a Short XRP ETF seeking -1x leverage and an UltraShort XRP ETF seeking -2x leverage, and an April 15 post-effective amendment. However, Bloomberg ETF Analyst James Seyffart wrote in an X post on Monday, 'We don't have a confirmed launch date yet but we believe they will launch—and likely launch in the short or possibly medium term. ProShares did not respond to request on Tuesday morning for further clarification on the timing of the launch. The back-and-forth comes after the Teucrium 2x Long Daily XRP ETF (XXRP), another leveraged ETF tracking the price of the Ripple digital currency, launched on April 8, before approval for a spot XRP ETF. Eric Balchunas, senior ETF analyst for Bloomberg, wrote in an X post just before XXRP's launch that it was 'very odd (maybe a first) that a new asset's first ETF is leveraged.' XXRP uses swaps, not CME futures, to obtain leverage, Bryan Armour, director of ETF and passive strategies research for North America at Morningstar, told 'Daily leveraged ETFs are notoriously poor performing in the long run, on average,' Armour said. 'Investors should be wary of the risks posed by these ETFs.'Permalink | © Copyright 2025 All rights reserved Sign in to access your portfolio
Yahoo
16-04-2025
- Business
- Yahoo
Two Key Factors Position XRP Favorably for SEC Spot ETF Approval, Analysts Say
Analysts at Kaiko have identified key factors that position XRP ahead of other cryptocurrencies for potential spot ETF approval by the U.S. Securities and Exchange Commission (SEC). With the SEC required to respond to Grayscale's spot XRP ETF filing by May 22, the anticipation is building. Kaiko's report highlights XRP's superior market liquidity, noting that it has the highest average altcoin market depth on major centralized exchanges. This high liquidity indicates a stable market environment, which is viewed favorably by the SEC. XRP currently leads in active ETF applications, boasting 10 filings, compared to five for Solana and three each for Litecoin and Dogecoin. Additionally, the recent launch of Teucrium's leveraged XRP ETF, designated XXRP, adds another layer of complexity. This product aims to provide twice the daily return of XRP through derivatives and has emerged as the first leveraged XRP ETF in the United States. However, a traditional spot XRP ETF has yet to receive SEC approval. Despite these developments, demand for spot XRP ETFs remains uncertain. Analysts have noted that the market for Ethereum ETFs has seen limited traction, and many institutional investors still favor Bitcoin. The options market for XRP has shown bearish sentiment, reflecting broader market uncertainty rather than specific concerns about ETF approval. Other cryptocurrencies, such as Litecoin and Solana, are also in contention for ETF approval. Litecoin is viewed as a strong candidate due to its similarities to commodities. Furthermore, Canada is preparing to launch spot Solana ETFs, often preceding similar approvals in the U.S. As the SEC deliberates its long-term crypto regulatory strategy, the upcoming deadline for Grayscale's filing may provide clarity on XRP's potential as a frontrunner in the ETF race. Sign in to access your portfolio
Yahoo
11-04-2025
- Business
- Yahoo
XRP address count hits record high as new ETF debuts
The number of XRP addresses has hit a record high amid the recent turmoil in the crypto market in the aftermath of President Donald Trump's tariff war. Even as XRP is struggling to reclaim the price level of $2, addresses holding at least 1 token have hit a record high of 6.26 million, crypto analyst Ali Martinez noted on X (formerly Twitter). The accumulation suggests that traders are convinced of the potential value appreciation in XRP in the long run even as the market remains extremely volatile. There is another piece of positive news for the XRP community. The first-ever XRP exchange-traded fund (ETF) debuted in the U.S. on Apr. 8. A crypto ETF is traded on stock exchanges and gives investors exposure to cryptocurrencies without the need for them to directly own or trade the underlying assets themselves. Launched by Vermont-based Teucrium Investment Advisors, the Teucrium 2x Long Daily XRP ETF (XXRP) gives a 2 times leveraged exposure to XRP by using swap agreements. On its first day on the NYSE Arca, XXRP recorded a trading volume of $5.43 million. Senior ETF analyst Eric Balchunas called the fund's performance 'very respectable,' given the market conditions. He put it among the top 5% of new ETF launches. Note that XRP is expected to be included in the U.S. crypto stockpile as perTrump's executive order. Ripple's years-long legal case with the federal securities regulator is nearly over. However, XRP has failed to reclaim the price level of $2 over the past two days. The token was trading at $1.79 at press time, as per Kraken's price feeds. Sign in to access your portfolio
Yahoo
09-04-2025
- Business
- Yahoo
First XRP ETF in the U.S. to Go Live on Tuesday With Launch of Teucrium's Leveraged Fund
Teucrium Investment Advisors will debut the first-ever XRP exchange-traded fund (ETF) in the U.S. The Teucrium 2x Long Daily XRP ETF (XXRP) give investors a 2x leveraged exposure to the closely related Ripple token. XXRP will start trading on the NYSE Arca on Tuesday even before a standard "spot" XRP ETF has been approved by regulators. 'Very odd (maybe a first) that a new asset's first ETF is leveraged. Spot XRP still not approved, although our odds are pretty high,' Bloomberg Intelligence analyst Eric Balchunas said in an X post. Typically, ETFs tracking emerging assets like cryptocurrencies begin with unleveraged "spot" funds — those that directly hold the underlying asset — before more complex leveraged products are introduced. Teucrium will charge a management fee of 1.85%. The firm cautioned that XRP's price volatility and declining usage on the Ripple network could pose challenges to the fund's performance, reflecting broader concerns about the token's adoption and market stability. Teucrium's leveraged ETF arrives amid a flurry of applications for spot XRP ETFs still under SEC review. Major fund managers, including WisdomTree, Bitwise, 21Shares, Canary Capital, and Franklin Templeton, have filed proposals to bring unleveraged XRP ETFs to market. The SEC has previously acknowledged these applications, and decisions expected in the coming months could pave the way for additional XRP investment options. XRP is up 6.5% in the past 24 hours, in line with a broader market move higher. CORRECT (April 8, 14:27 UTC): Adds dropped words in ETF's name in second paragraph.
Yahoo
08-04-2025
- Business
- Yahoo
Teucrium To Launch First XRP ETF in U.S. on Tuesday, Spot ETF Still Awaiting Approval
Teucrium Investment Advisors LLC is set to launch the first-ever XRP-based exchange-traded fund (ETF) in the U.S. on April 8. The Teucrium 2x Long Daily XRP ETF (XXRP) will be a leveraged fund designed to provide investment results that correspond to twice the daily price performance of XRP, the fourth-largest crypto by market capitalization. XXRP will begin trading on NYSE Arca and will have a management fee ratio of 1.85%, with monthly distributions. According to Teucrium, the fund is aimed at investors with a short-term, high-conviction view on XRP prices. While Teucrium's ETF represents a significant development, multiple U.S. issuers, including Grayscale and WisdomTree, have submitted applications for spot XRP ETFs, which are still pending review by the U.S. Securities and Exchange Commission (SEC). Analysts suggest the chances of approval for these spot ETFs have increased, particularly following Ripple Labs' recent settlement with the SEC regarding the classification of XRP as a financial security. Ripple agreed to pay a $50 million fine, reduced from a previous $125 million penalty. Bloomberg Senior ETF Analyst Eric Balchunas noted the unusual nature of launching a leveraged ETF as the first for a new asset. He remarked on the uncertainty surrounding the demand for spot XRP ETFs, especially in light of the limited traction seen by Ethereum ETFs in the market. With the SEC's review process ongoing, the future of spot XRP ETFs remains uncertain, though analysts believe XRP and Solana could be potential contenders for approval following Bitcoin and Ethereum. Sign in to access your portfolio
