Teucrium’s 2x XRP ETF tops $300M in flows, dominates 52% of the market
Teucrium 2x Long Daily XRP ETF (XXRP) reached $323.6 million in net flows this week, being the first XRP exchange-traded fund (ETF) traded in the US to surpass the $300 million threshold.
According to VettaFi’s data, XXRP now represents 52.5% of the total $616 million in net flows registered by US-traded XRP ETFs.
Notably, all exchange-traded products (ETPs) tied to XRP in the US are pegged to derivatives, with the SEC yet to greenlight spot products as of July 29.
Two-digit growth
According to CoinShares, XRP ETPs captured $189 million in inflows last week. XXRP’s $73.4 million in net flows then represented 39% of the global flows, and a 22.7% weekly growth in inflows.
On July 21, XXRP saw the most significant daily volume of any XRP ETF in the US to date, capturing $50.4 million.
The Teucrium ETF is the oldest of the four XRP ETFs traded in the US, launched on April 8. On May 22, Volatility Shares launched its XRP products, the funds XRPI and XRPT. While XRPI offers no leverage, XRPT offers exposure to 2x leverage.
XRPI registered $124.6 million in inflows as of July 28, according to data from ETF.com. XRPT posted nearly $168 million in net flows in the same period.
Regarding last week’s performance, Volatility Shares’ funds registered similar growth. XRPI total inflows increased by 27% by $33.6 million. At the same time, XRPT added $43.6 million in inflows, growing 26%.
The youngest of the bunch is ProShares Ultra XRP ETF (UXRP), which became live on July 16. Since then, the 2x leverage ETF captured roughly $101,000 in inflows.
Outpaced by Solana products
Despite surpassing Solana (SOL) in total market cap to become the third-largest crypto, XRP ETPs still register a smaller inflow count than SOL-related products this year.
XRP-based products closed June with nearly $410 million in year-to-date flows, against SOL’s $292.5 million.
However, XRP products now amount to $721 million in the global total net flows, losing ground to Solana-tied ETPs and their $844 million in inflows.
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