According to Bloomberg analyst Eric Balchunas, VolatilityShares is on track to launch an XRP-based exchange-traded product in the US on Thursday.
As reported by U.Today, a 2X XRP exchange-traded fund (ETF) from Teucrium debuted last month. The product secured a very respectable trading volume of roughly $5 million on its first day.
Balchunas has noted that the leveraged product offered by Teucrium already boasts $120 million in assets under management and trades $35 million.
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The prominent analyst has interpreted this as a “good signal” of robust future demand.
In the meantime, it remains unclear when ProShares is to reveal the launch date for its futures-based XRP ETF products.
The U.S. Securities and Exchange Commission (SEC) has also denied making a decision on several spot-based XRP ETFs in the U.S, including the ones from Franklin Templeton.