On Thursday, the first U.S.-based exchange-traded fund (ETF) tracking XRP futures on a one-to-one basis began trading on the Nasdaq. The Volatility Shares XRP ETF (XRPI) has a gross expense ratio of 1.15% and a net expense ratio of 0.94% after fee waivers. The fund will invest at least 80% of its assets in XRP futures contracts and shares of other XRP-linked ETPs.
Volatility Shares also plans to launch a 2x leveraged XRP futures ETF, joining Teucrium (XXRP), which began operations in April. The XXRP has attracted $121 million in assets under management. Bloomberg's senior ETF analyst, Eric Balchunas, characterized this as a "good sign that there will be demand" for the XRPI.
A second product, a 2x leveraged XRP futures ETF, is also under development as interest in XRP-based funds grows.
This article is based on our author's analysis of materials taken from the following resources: Coindesk.