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ARK Invest’s Mixed Response: Selling $12 Million in Bitcoin ETF While Acquiring $26.6 Million in Coinbase Stock Amid Tariffs

ARK Invest’s recent trading activities underscore the firm’s strategic approach amidst market volatility driven by recent trade tariffs. Despite offloading Bitcoin ETF shares, ARK’s investment in Coinbase illustrates a calculated The Daily Hodl

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First XRP ETF to launch today; Here’s what you need to know

Tuesday, April 8, is set to feature a rather unusual development as a brand new XRP exchange-traded fund ( ETF ) is scheduled for listing on the NYSE Arca exchange. The arrival of the ETF is unusual as it will be a 2x leveraged product designed to utilize XRP derivatives instead of holding the cryptocurrency itself. In what Bloomberg’s senior ETF analyst, Eric Balchunas, believes might be a world first, the Teucrium Investment Advisors’ 2x XRP ETF (XXRP) will precede the long-anticipated approval of a spot token fund: A 2x XRP ETF is launching tmrw in US, the first-ever XRP ETF on the market. Very odd (maybe a first) that a new asset’s first ETF is leveraged. Spot XRP still not approved, altho our odds are pretty high. XRP reacted positively to the news and is up 5.99% in Tuesday trading to its press time price of $1.90. The day’s rally has simultaneously negated much of the Monday, April 7 $20 billion market capitalization wipe , though the cryptocurrency is yet to regain its previous support level at $2. XRP one-week price chart. Source: Finbold The fund itself could face some immediate turbulence, as Teucrium warned that the token’s high volatility and the declining usage of the network could pose challenges after the launch. The ETF is also slated to charge a relatively high 1.85% fee. Is a spot XRP ETF on the horizon? Elsewhere, a spot XRP ETF appears to be on the horizon, with numerous companies submitting their filing to the Securities and Exchange Commission (SEC) and with the watchdog, by press time on April 8, acknowledging the submissions. Considering that the second Trump administration ushered in a more crypto-friendly attitude, there is a far greater chance that the funds will be approved in a timely manner than there would have been less than three months ago. Even before the change in the SEC leadership, the regulator had been making breakthroughs regarding digital assets, with the spot Bitcoin ( BTC ) and Ethereum ( ETH ) ETF approvals in 2024. Another hint that more such products will arrive on the market within a relatively short timeframe is the recent partnership between Trump Media (NASDAQ: DJT ) and Crypto.com, which is specifically focused on providing cryptocurrency exchange-traded products. Featured image via Shutterstock The post First XRP ETF to launch today; Here’s what you need to know appeared first on Finbold . The Daily Hodl