Bloomberg: New Shanzhai Coin ETF launches, testing Wall Street's enthusiasm for cryptocurrency investment once again

On April 8th, according to Bloomberg, alternative asset management company Tecrium Investment Advisors LLC officially launched a leveraged ETF linked to cryptocurrency XRP, the first product in the US market to offer such exposure. XRP is the fourth largest cryptocurrency in the world by market value, with a market value of approximately $111 billion, and is also a core asset in the recent investigation by US regulators into Ripple Labs Inc. According to the Teucrium official website, the product called "Teucrium 2x Long Daily XRP ETF" will achieve twice the leverage return on XRP daily returns through swap contracts, and will be officially listed on the trading platform on Tuesday with the trading code XXRP and an annualized fee rate of 1.85%. The launch of this product marks another bold attempt by traditional financial institutions in the layout of encrypted assets, and also reflects the increasing market attention to the potential of XRP. It is worth mentioning that there is currently no active trading of XRP futures contracts on mainstream commodity trading platforms in the United States. However, Teucrium stated in the fund prospectus that it may include XRP futures and other financial instruments that can provide exposure to this asset in the future. Teucrium was founded in 2010 and currently manages assets worth $311 million. It has 12 ETFs covering various alternative markets.