{"id":58124,"date":"2025-04-10T00:00:17","date_gmt":"2025-04-10T00:00:17","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=58124"},"modified":"2025-04-10T00:00:17","modified_gmt":"2025-04-10T00:00:17","slug":"xrp-etf-launch-impresses-even-in-bear-market-says-analyst","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=58124","title":{"rendered":"XRP ETF Launch Impresses Even In Bear Market, Says Analyst"},"content":{"rendered":"

Teucrium\u2019s newly launched 2x XRP ETF<\/a> on the New York Stocks Exchange recorded $5.43 million in turnover during its first day of trading on April 8, despite XRP prices hitting a five-month low.<\/p>\n

The ETF, trading under the ticker XXRP<\/a>, achieved this milestone as cryptocurrency markets faced widespread selling pressure. Bloomberg Senior ETF Analyst Eric Balchunas called the performance \u201cvery respectable\u201d given the current bearish market conditions.<\/p>\n

XRP Price Hits Five-Month Low As New ETF Launches<\/strong><\/h2>\n

According to market data, XRP\u2019s price<\/a> dropped to $1.61 on Monday, marking its lowest point in five months. The price briefly recovered to over $1.87 on Tuesday before falling again to $1.69 by evening. Even with these unstable price movements, Teucrium moved forward with its ETF launch<\/a>, aiming to give investors a way to profit from price swings in either direction.<\/p>\n

$XXRP<\/a> (2x XRP ETF) saw $5mil in volume on Day One, very respectable, esp considering the mkt conditions. That puts it in approx top 5% of new ETF launches, and about 4x what the 2x Solana ETF $SOLT<\/a> did (altho both 200x less than King IBIT). pic.twitter.com\/u3QQq5yuHv<\/a><\/p>\n

\u2014 Eric Balchunas (@EricBalchunas) April 8, 2025<\/a><\/p>\n

New XRP ETF Outperforms Similar Solana Product<\/strong><\/h2>\n

Based on reports from Bloomberg\u2019s Balchunas, the XXRP ETF\u2019s first-day trading volume was about four times higher than what Solana\u2019s similar 2x ETF saw on its launch day. This performance puts Teucrium\u2019s product in the top 5% of all new ETF launches. However, the $5.43 million figure still pales in comparison to BlackRock\u2019s Bitcoin ETF debut, which saw trading volume roughly 200 times larger.<\/p>\n\n

Community Shows Interest Despite Broad Market Losses<\/strong><\/p>\n

The altcoin community has responded positively to the ETF launch, especially considering the harsh market conditions. Data shows that 137,000 traders faced liquidations in the 24 hours surrounding the launch, with total losses exceeding $413 million across cryptocurrency markets.<\/p>\n

Some XRP supporters have suggested that while XXRP\u2019s volume was much smaller than BlackRock\u2019s Bitcoin ETF (IBIT), a potential spot ETF (which some have dubbed \u201cIXRP\u201d) could provide stronger competition.<\/p>\n

How The 2x XRP ETF Works And Its Risks<\/strong><\/p>\n

Unlike spot ETFs that directly hold the underlying asset, Teucrium\u2019s XXRP<\/a> does not invest directly in XRP tokens. Instead, it\u2019s designed to deliver twice the daily performance of XRP\u2019s price movements, which amplifies both gains and losses for investors.<\/p>\n

Community figure Crypto Eri warned about the ETF\u2019s built-in risk factors, noting that even if XRP\u2019s price stays flat, volatility alone could cause significant losses. For example, if XRP experiences 25% volatility, XXRP holders could see a 6% loss. With 70% volatility, those losses could balloon to 40%.<\/p>\n

The launch comes as more than 10 asset managers have filed applications with the SEC for spot XRP ETFs. Major firms like Grayscale and Franklin Templeton have submitted applications, though BlackRock has not yet expressed interest in launching an XRP-specific ETF product.<\/a><\/p>\n

Featured image from Unsplash, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"

Teucrium\u2019s newly launched 2x XRP ETF on the New York Stocks Exchange recorded $5.43 million in turnover during its first day of trading on April 8, despite XRP prices hitting a five-month low. The ETF, trading under the ticker XXRP, achieved this milestone as cryptocurrency markets faced widespread selling pressure. Bloomberg Senior ETF Analyst Eric […]<\/p>\n","protected":false},"author":0,"featured_media":58125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-58124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/58124"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=58124"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/58124\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/58125"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}