Teucrium's Short XRP ETF Faces 20th Delay, Launch Date Set for October 11

Teucrium, a financial services company, has pushed back the launch of its short XRP exchange-traded fund (ETF) for the 19th time. According to a filing dated September 11, the earliest possible start date for the fund has been moved to October 11, 2026. The fund is designed to pay investors when the price of XRP falls, providing a listed way to bet against the cryptocurrency's price movements.

Background and History of the Fund

The short XRP ETF was first proposed in April 2025, with the initial launch date set for May 11 of the same year. However, the company has since delayed the launch 19 times, with each delay moving the start date by roughly a month. The fund's mirror image, which pays investors when XRP rises, has been trading since April 2025. Public records held by the US Securities and Exchange Commission show that the same three-page document, which updates the launch date, has been filed roughly every month since April 4, 2025.

Each filing has carried no explanation beyond the new date, with the strategy, fees, and risk warnings remaining unchanged. The new filing, dated September 11, is no exception, with the launch date being moved to October 11, 2026. It's worth noting that the first postponement occurred just four days before the 2x long XRP fund began trading on the New York Stock Exchange. Teucrium sold the upside version and shelved the downside one, with no regulatory body blocking the move. The company chose to delay the launch itself.

How the Fund Works

The short XRP ETF aims to move twice as much as XRP does each day, in the opposite direction. Unlike traditional funds that hold XRP, this ETF would never sell any XRP. Instead, it would use contracts with trading firms that pay out when the price drops. This allows investors to bet against the price of XRP without actually holding the cryptocurrency.

Impact of the Delay on the Market

Meanwhile, the thing the fund was designed for happened without it. XRP peaked at $3.65 in July 2025 and now trades near $1.37, suggesting a drawdown of over 60%. Anyone wanting a listed way to bet against that slide had none. Ordinary funds that simply hold XRP did arrive, and money kept flowing in. Over their past 20 trading days, those funds took in $190.5 million, with withdrawals on a single day. Buyers stayed put through the decline. Cumulative inflows since launch now stand at $1.70 billion.

What's Next for the Fund?

After 19 postponements, the sharper question is what changes if the fund ever does launch. The delay has given investors time to explore other options, such as traditional funds that hold XRP. However, the launch of the short XRP ETF could still provide a unique opportunity for investors to bet against the price of XRP. As the launch date approaches, investors will be watching to see how the fund performs and whether it meets its intended purpose.

Key Takeaways

  • The short XRP ETF has been delayed 19 times, with the latest launch date set for October 11, 2026.
  • The fund is designed to pay investors when the price of XRP falls, providing a listed way to bet against the cryptocurrency's price movements.
  • Ordinary funds that simply hold XRP have taken in $190.5 million over their past 20 trading days, with cumulative inflows since launch standing at $1.70 billion.
  • The launch of the short XRP ETF could still provide a unique opportunity for investors to bet against the price of XRP.