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Ripple Investors Attention! A First for XRP Will Happen Today in the USA!
Bitcoin and Ethereum spot ETFs have been filed for many altcoins like XRP and Solana after them. While the approval of these altcoin ETFs is expected with the new SEC administration, the ETF excitement has been interrupted.
The sharp declines in Bitcoin and altcoins have overshadowed the excitement around ETFs. However, despite the drop, good news came from a Bloomberg analyst.
Bloomberg ETF analyst James Seyffart announced from his X account that the first XRP ETF in the US will be launched.
Accordingly, Teucrium Investment Advisors, an independent ETF issuer, is preparing to launch a 2x leveraged XRP ETF on NYSE Arca starting April 8.
This ETF provides investors with greater exposure to XRP's daily movements before the approval of the spot ETF. It was stated that the product's symbol on the exchange would be XXRP.
For the first time in the US, a leveraged ETF linked to XRP will be launched, and it is stated that this ETF could increase the wider adoption of XRP.
Sal Gilbertie, the founder and CEO of Teucrium, speaking to Bloomberg, stated that investors have shown strong interest in the XRP ETF and that they may apply to list more crypto ETFs in the future.
Bloomberg analyst Eric Balchunas noted that it is very strange for a new asset's first ETF to come in the form of a leveraged ETF, while stating that the likelihood of the spot XRP ETF being approved is still quite high.
As many spot XRP ETF applications made by companies such as Grayscale, Bitwise, Franklin Templeton, Canary Capital, and 21Shares continue to be reviewed by the SEC, Balchunas and Seyffart stated in February that there is a 65% chance of the spot XRP ETF being approved in 2025.