Teucrium CEO Thinks Ripple Could Replace SWIFT, Hence the XRP ETF Launch
Main Idea
Teucrium CEO believes Ripple's technology could replace SWIFT, leading to the launch of the Teucrium 2x Long Daily XRP ETF, which has gained significant traction.
Key Points
1. Gilbertie, CEO of Teucrium, attributes the launch of the XRP ETF to Ripple's potential to overhaul international payment systems like SWIFT.
2. XRP stood out to Gilbertie due to its real-world application and Ripple's long-term strategy for cross-border payments.
3. Teucrium structured the 2x XRP ETF using swaps linked to a Swiss ETF holding XRP, gaining a first-mover advantage in the U.S. market.
4. The Teucrium 2x Long Daily XRP ETF surpassed $300 million in assets under management, driven by strong demand from the XRP community.
5. Gilbertie reflected on Teucrium's earlier Bitcoin ETF setbacks, noting the shift in SEC approval processes under different regulatory acts.
Description
Sal Gilbertie, CEO of Teucrium, has clarified why the company forayed into the XRP ETF space, attributing the move to his belief in Ripple’s potential to overhaul international payment systems, such as SWIFT. In a recent appearance on the Thinking Crypto podcast, Gilbertie explained that XRP’s utility and Ripple’s mission to improve global finance were central to the decision to launch the Teucrium 2x Long Daily XRP ETF (XRP). According to Gilbertie, Ripple’s long-term strategy could redefine ho...
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