XRP ETF Debut: $5M in a Day, Because Why Not Gamble Twice?

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In a world where people will bet on anything—yes, even the color of a snail’s shell—Teucrium’s 2x Long Daily XRP ETF has entered the fray with a bang. Or, more accurately, a $5 million ka-ching. 🤑

This ETF, which promises to double the daily returns of XRP (because apparently, regular returns are for amateurs), has already secured its place in the top 5% of ETF launches. Not bad for a product that’s essentially a financial version of “hold my beer.”

Now, you might be wondering, “How does this sorcery work?” Well, it’s all about swap agreements and European exchange-traded products. Because, of course, when you’re doubling down on crypto, why not throw in a bit of continental flair? 🇪🇺

And let’s not forget the U.S. government’s newfound love for all things crypto. The ETF filing happened faster than you can say “SEC regime change,” and Teucrium launched it quicker than a caffeinated squirrel on a sugar rush. 🐿️

“We filed as soon as we could after the old SEC regime left … we launched today,” said CEO Sal Gilbertie, who probably hasn’t slept since. “I think it’s almost at a couple hundred thousand shares.”

For context, this ETF saw four times the initial activity of Volatility Shares’ 2x Solana ETF (SOLT). That’s like comparing a fireworks show to a sparkler. 🎆

“It’s been a terrific, very successful launch — our most successful launch day to date for any fund we’ve ever done,” Gilbertie added, probably while popping champagne. “There was overwhelming excitement… I think a lot because we were overlooked.”

But here’s the kicker: this ETF isn’t for the faint of heart or the long-term investor. It’s a short-term trading tool, ideally for one day. Because, as Gilbertie so eloquently put it, “if that asset goes up very slowly or sideways or down, you will lose money.” So, you know, no pressure. 😬

And just when you thought the madness couldn’t get any crazier, Teucrium is already planning an inverse XRP ETF. That’s right, now you can profit from XRP’s price drops. Because why not bet against the house while you’re at it? 🃏

So, there you have it. The world of finance continues to be a wild, unpredictable ride. And if you’re thinking of jumping in, just remember: the house always wins. Or, in this case, the ETF. 🎰

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2025-04-09 17:02