- Teucrium’s 2X Daily Long XRP ETF launched with $5 million in volume, outshining Solana’s ETF debut.
- While impressive, it still trails far behind Bitcoin’s dominant $1 billion ETF launch.
The launch of Teucrium’s 2X Daily Long XRP ETF has made waves in the crypto market, clocking an impressive $5 million in trading volume on its first day. Launched on April 8 via NYSE Arca, the leveraged XRP product not only outpaced similar altcoin ETFs like Solana’s, but also sparked fresh speculation about a possible Spot XRP ETF on the horizon.
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Compared to the Solana 2X ETF (SOLT), which saw four times less volume at launch, XRP’s debut has clearly resonated more with investors seeking high-leverage exposure. Bloomberg ETF analyst Eric Balchunas noted the volume places it in the top 5% of ETF launches — no small feat given current market conditions.
However, there’s a twist. Despite its strong showing, the XRP ETF’s performance pales in comparison to the launch of BlackRock’s iShares Bitcoin Trust (IBIT), which hit a jaw-dropping $1 billion in day-one trading volume. While XRP’s debut is a major win for altcoins, it still highlights the vast gap between Bitcoin’s institutional dominance and the rest of the pack.
Still, analysts believe this momentum could be the fuel needed to ignite a Spot XRP ETF. Ripple’s legal clarity following its partial win against the U.S. SEC has reignited institutional interest. Major players like Franklin Templeton have already filed for a Spot XRP ETF, joining a growing queue that includes Grayscale and others.
Outside the U.S., XRP’s ETF push is already gaining traction. In Brazil, the Hashdex Spot XRP ETF has secured regulatory approval and is trading on the B3 exchange. The news triggered a 6% jump in XRP’s price — yet another sign of increasing investor optimism.
As XRP continues to attract attention from major asset managers and traders alike, its leveraged ETF success might just be the beginning of a broader wave of adoption — even if it’s still playing catch-up with Bitcoin.
