Teucrium 2x Long Daily XRP ETF (XXRP) has made waves in the US market, surpassing the $300 million threshold in net flows this week. This milestone marks a significant achievement for the first XRP exchange-traded fund (ETF) traded in the US.
According to VettaFi’s data, XXRP now accounts for 52.5% of the total $616 million in net flows recorded by US-traded XRP ETFs. It’s worth noting that all exchange-traded products (ETPs) linked to XRP in the US are tied to derivatives, as the SEC has yet to approve spot products as of July 29.
CoinShares reported that XRP ETPs attracted $189 million in inflows last week, with XXRP’s $73.4 million in net flows representing 39% of the global flows and showing a 22.7% weekly growth in inflows. On July 21, XXRP experienced its highest daily volume to date, capturing $50.4 million in trades.
The Teucrium ETF, launched on April 8, is the oldest of the four XRP ETFs traded in the US. Volatility Shares introduced its XRP products, XRPI and XRPT, on May 22. While XRPI offers no leverage, XRPT provides exposure to 2x leverage. XRPI and XRPT recorded significant inflows of $124.6 million and nearly $168 million, respectively, as of July 28.
Volatility Shares’ funds also showed growth in inflows last week, with XRPI and XRPT seeing a 27% and 26% increase in total inflows, respectively. The newest addition to the lineup is ProShares Ultra XRP ETF (UXRP), which went live on July 16 and has attracted roughly $101,000 in inflows since its inception.
Despite XRP surpassing Solana (SOL) in total market cap to become the third-largest cryptocurrency, XRP ETPs have seen a smaller inflow count compared to SOL-related products this year. XRP-based products closed June with nearly $410 million in year-to-date flows, while SOL products recorded $292.5 million. However, XRP products now total $721 million in global net flows, trailing behind Solana-tied ETPs with $844 million in inflows.
Overall, the success of XXRP and other XRP ETFs in the US market showcases the growing interest in XRP investment opportunities. Investors are keen on leveraging these products to gain exposure to the cryptocurrency market and capitalize on its potential growth.