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SEC Delays WisdomTree and VanEck Spot Bitcoin and Ethereum ETF Physical Trading Decision Until June 3 The U.S. Securities and Exchange Commission (SEC) has postponed its decision on physical subscriptions and redemptions for WisdomTree and VanEck’s spot Bitcoin and Ethereum ETFs until June 3, 2025. Physical subscriptions involve the direct exchange of underlying assets, such as Bitcoin and Ethereum, rather than cash. NYSE Arca and Cboe BZX are the exchanges involved in these proposals. (The Defiant)

The SEC extended the review period for three proposed rule changes: NYSE Arca’s proposal to allow ether staking for the Grayscale Ethereum Trust ETFs, and Cboe BZX’s proposals to permit in-kind creations and redemptions for the WisdomTree Bitcoin Fund and the VanEck Bitcoin and

Teucrium’s 2X Long Daily XRP ETF made its trading debut on NYSE Arca, pulling in $5 million in volume on launch day alone. The product, which is structured to double XRP’s daily price movement, stood out sharply in a slow-moving market where most ETFs struggle to get attention. This debut didn’t just slide in quietly. Bloomberg Senior ETF Analyst Eric Balchunas said the fund’s volume lands it comfortably in the top 5% of all new ETFs ever launched. That’s no small feat for any product, especially one linked to a digital asset still tangled up in the long shadow of regulatory uncertainty. $XXRP (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 did (altho both 200x less than King IBIT). pic.twitter.com/u3QQq5yuHv — Eric Balchunas (@EricBalchunas) April 8, 2025 The timing is far from random. Ripple’s courtroom drama with the U.S. Securities and Exchange Commission is nearing a conclusion, and there’s a growing lineup of traditional finance giants aiming to get in on the XRP action. Institutions are clearly warming up. Compared to its peers, the ETF’s launch was something of a thunderclap. The Solana 2X ETF (SOLT), which hit the market earlier, barely made a splash in comparison. It drew in roughly one-quarter of XRP’s opening volume. That gap points to investors’ rising appetite to bet on XRP’s next big move. However, it wasn’t all roses. Balchunas offered perspective, saying that while XRP’s numbers are strong, “it pales compared to BlackRock iShares Bitcoin Trust ( IBIT ),” which had a debut volume crossing $1 billion. In other words, XRP is punching above its weight—but still in a different ring than the heavyweights like Bitcoin. Teucrium is charging a 1.85% management fee on the fund. It’s meant for quick trades, not long-term holders, and comes with warnings baked in—namely, XRP’s price swings and usage volatility, which could shake returns. While the Teucrium fund leads the way, for now, the ETF pipeline for XRP is growing thick. Franklin Templeton, managing $1.5 trillion in assets, filed recently for a spot XRP ETF on Cboe. They join a list that includes WisdomTree, Bitwise, 21Shares, Canary Capital, and Grayscale. That’s a big wall of Wall Street names trying to get a slice of the action. Grayscale’s proposal goes a step further. They’re looking to convert their XRP Trust into a full-blown ETF via the NYSE. With Ripple dropping its cross-appeal against the SEC, the road looks clearer, though not yet fully paved. Brazil has already moved forward. Hashdex’s XRP ETF was approved by regulators there and now trades on the B3 exchange. The market reacted fast—XRP shot up 6% on that news, a strong sign that investor optimism is reaching beyond U.S. borders.

In related news, Teucrium Investment Advisors announced the launch of a 2X leveraged XRP ETF on NYSE Arca on April 8. As the name suggests, the fund will move up to 2x correlation with the $XRP token and is aimed at short-term and day traders. $XRP $BTC $ETH $SOL $PI $BGB $DOGE $BNB

New ETF offers double the daily return of XRP, adding innovative options for crypto investors. First-ever leveraged XRP ETF set to debut in the US Key Takeaways Teucrium is launching the first leveraged ETF linked to XRP in the US, trading under the ticker XXRP. The ETF aims to deliver twice the daily return of XRP and has a 1.85% expense ratio. Teucrium Investment Advisors is set to launch the first-ever leveraged exchange-traded fund linked to XRP, the fourth-largest crypto asset by market cap, Bloomberg reported Monday. The fund, called the Teucrium 2x Long Daily XRP ETF, will trade on NYSE Arca under the ticker XXRP. The exchange has certified its approval of the listing and registration of the fund. The ETF aims to offer investors a leveraged way to bet on the daily price movements of XRP. The fund seeks to deliver returns that are double the daily return of $XRP through the use of swap agreements. The XXRP ETF will charge a management fee of 1.89%, according to its prospectus. To determine the price of XRP for the swap agreements, the fund will reference several benchmarks, including the CME CF XRP-Dollar Reference Rate, the CME CF XRP-Dollar Real Time Index, and spot XRP ETFs. However, since there are no US-listed spot XRP ETFs suitable for the fund’s investment or as a reference asset, the XXRP ETF will initially base its XRP swaps on several XRP ETPs listed on European exchanges. These include 21Shares XRP ETP, Bitwise Physical XRP ETP, Virtune XRP ETP, WisdomTree Physical XRP ETP, and CoinShares Physical XRP ETP. Teucrium Investment Advisors, currently managing $311 million in assets, specializes in providing ETFs focused on alternative investments, such as agricultural commodities and other niche markets. Prior to the XXRP fund, Teucrium had already launched a Bitcoin futures ETF, called the Teucrium Bitcoin Futures Fund. The product launched in April 2022 after being approved by the SEC under the Securities Act of 1933. According to its prospectus, Teucrium is also seeking to launch a short version of the Teucrium 2x Long Daily XRP ETF, dubbed the Teucrium 2x Short Daily XRP ETF. The leveraged inverse ETF would allow investors to potentially profit from daily declines in the price of XRP. According to Sal Gilbertie, founder and CEO of Teucrium ETFs, the decision to launch the leveraged XRP ETF at this time was influenced by attractive low prices. He also noted that there was considerable investor demand for XRP, which he expects would be heightened by the fund’s leverage. XRP was trading at $1.9 at press time, up 1% in the last 24 hours, according to CoinGecko. The launch comes as the years-long legal battle between the SEC and Ripple Labs, the company behind XRP, approaches the final line, as confirmed by Ripple CEO Brad Garlinghouse last month. Garlinghouse, speaking in a recent interview with Bloomberg, said that he anticipates the launch of multiple XRP ETFs in the US during the second half of 2025. The favorable settlement with the SEC immediately boosted market optimism, pushing the odds of XRP ETF approval to 86% and increasing XRP’s value by 14%. In the US, several asset managers—including Bitwise, Canary Capital, 21Shares, WisdomTree, CoinShares, Grayscale, and Franklin Templeton—have already submitted filings to the SEC for their own XRP ETFs. ProShares and Volatility Shares are also seeking a regulatory nod for XRP-linked investment products. According to Nate Geraci, President of The ETF Store, the outcome of the suit could prompt major players like BlackRock and Fidelity to consider joining the XRP ETF race.