The first-ever U.S.-based exchange-traded fund (ETF) tracking XRP futures on a one-to-one basis started trading on the Nasdaq exchange on Thursday.

The Volatility Shares XRP ETF (XRPI) has a gross expense ratio of 1.15% and a net expense ratio after fee waivers of 0.94%.

The fund will invest at least 80% of its assets in XRP futures contracts and shares of other XRP-linked ETPs, according to a prospectus. Volatility Shares also plans to also launch a leveraged 2x XRP futures ETF where it would join the Teucrium (XXRP), which opened for business in April..

XXRP has so far pulled in $121 million in assets-under-management, which Bloomberg senior ETF analyst Eric Balchunased characterized as a “good signal that there will be demand” for XRPI.

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