Teucrium, the agro-focused exchange-traded fund issuer, once built its ETF catalogue on grains, but now it’s all about gains, specifically from its leveraged XRP ETF product.
Launched in April, Teucrium’s leveraged XRP ETF has hoovered up $397 million in net assets, dwarfing the combined total of Teucrium’s more traditional agro-based ETFs, the biggest of which has $114 million in net assets.
The fund’s share price has also surged 50% this month to $48.2, a sign that reflects institutional hunger for XRP exposure.
That appetite is surfacing in multiple markets, not just Teucrium’s own ETF.
Analysts at B2BINPAY, a crypto business payment provider, noted a sharp rise in trading volume and open interest for XRP.
They say this indicates significant activity from big-money players, and not just the retail crowd that usually drives XRP price spikes.
“Institutions are clearly rotating in,” they said.
That institutional stampede is happening at an important time for XRP. The cryptocurrency designed by Ripple for cross-border transactions cracked a new all-time high above $3.66 on Friday.
XRP’s new price record comes despite the absence of any new market narratives specific to the cryptocurrency or Ripple.
The Securities and Exchange Commission hasn’t approved a spot XRP ETF, and the regulator’s case against Ripple hasn’t been settled.
The company’s founders created the digital asset, and today it uses XRP to facilitate cross-border payments.
But the crypto market is enjoying a wave of historic policy wins in Washington, including the passage of two major bills. The crypto market size crossed $4 trillion for the first time on Friday.
And XRP is riding the wave.
Traders are piling into optimistic bets on XRP amid the bubbling bullish fervour.
On Thursday, one whale opened up a $15 million XRP long position on Hyperliquid, and XRP as a whole has the highest long-short ratio among all the other major cryptocurrencies. That shows traders are expecting XRP’s price to climb even higher.
And some market watchers predict XRP still has more room to grow.
