Industry description
The investment seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of XRP.
The fund is an exchange-traded fund (“ETF”) that seeks to achieve its investment objective primarily through managed exposure to XRP futures contracts that trade only on an exchange registered with the Commodity Futures Trading Commission (“XRP Futures Contracts”), and cash, cash-like instruments or high-quality securities that serve as collateral to the fund’s investments in XRP Futures Contracts (“Collateral Investments”). The fund is non-diversified.