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The CEO of the company that launched the first XRP ETF in the US talked about Bitcoin and XRP! He answered the question "Why XRP?"!
Following the approval of spot ETF for Bitcoin and Ethereum, many ETF applications were made for various altcoins. One of them was XRP, which is one of the largest altcoins.
While many companies have applied for an ETF for XRP, the first XRP ETF in the US was launched at the beginning of April.
Accordingly, Teucrium Investment Advisors, an independent ETF issuer, launched a 2x leveraged XRP ETF on April 8 on NYSE Arca.
This ETF allows investors to gain greater exposure to the daily movements of XRP before the approval of the spot ETF, while it is stated that it will pave the way for the approval of the spot XRP ETF.
Why XRP?
After the XRP futures ETF, Teucrium founder and CEO Sal Gilbertie spoke to Bloomberg, stating that XRP is the cryptocurrency with the highest utility.
Gilbertie, who describes XRP as the most useful cryptocurrency, emphasized that it has unique value and strong development support.
Gilbertie emphasized that the 2X leveraged XRP ETFs target short-term investors who want to bet on daily price movements without the need for a margin account.
Bitcoin or XRP?
The CEO of Teucrium also compared XRP and Bitcoin.
The famous CEO described XRP as a practical tool for value transfer.
The CEO of Teucrium stated that beyond trading, he believes XRP and Ripple are laying the foundations for a broader financial transformation, and that Ripple is moving towards "tokenizing everything."