TLDR
- Teucrium approved a 1-for-10 reverse share split for the XXRP ETF.
- XXRP shares will trade on a split-adjusted basis on June 29, 2026.
- The XXRP ticker will remain unchanged after the reverse share split.
- The reverse split will reduce XXRP shares outstanding by about 90%.
- Teucrium said the split will not change the value of shareholder investments.
Teucrium Investment Advisors has announced a one-for-ten reverse share split for the Teucrium 2x Long Daily XRP ETF, a leveraged fund that trades on NYSE Arca under the ticker XXRP.
The reverse share split was approved by the Board of Trustees of Listed Funds Trust and will become effective for shareholders after the close of trading on NYSE Arca on June 26, 2026. XXRP shares will begin trading on a split-adjusted basis on June 29, 2026, while the fund’s ticker symbol will remain unchanged.
Teucrium said the fund’s CUSIP number will change from 53656G191 to 53656H595 after the close of trading on the effective date. The company said shareholders do not need to take any action, as the Depository Trust Company will adjust positions through the fund’s transfer agent.
XXRP Reverse Split Reduces Share Count
The reverse share split ratio is 1-for-10, meaning every ten XXRP shares held by an investor will be consolidated into one share. The total number of outstanding shares will be reduced by about 90% after the split is completed.
The fund’s net asset value per share will rise proportionally. Immediately after the split takes effect, each post-split XXRP share is expected to have a net asset value about ten times higher than the pre-split share value.
Teucrium said the reverse split will not change the total value of a shareholder’s investment. It also will not change a shareholder’s percentage interest in the fund, except in cases where fractional shares are created and paid out in cash.
NYSE Arca does not permit trading in fractional shares. Investors who hold XXRP shares in amounts that are not exact multiples of 10 will receive cash in lieu of fractional shares created by the reverse split. Teucrium said such payments may cause some shareholders to realize gains or losses, which could be taxable events.
Fund Provides Leveraged XRP Exposure
XXRP is a U.S.-listed leveraged exchange-traded fund designed to provide two times the daily price performance of XRP. The fund is intended for short-term trading exposure rather than long-term holding, because leveraged ETF returns can differ from the target multiple over periods longer than one trading day.
The fund does not hold physical XRP directly. It seeks leveraged exposure through instruments such as over-the-counter swaps, futures contracts, and options, including through a Cayman Islands subsidiary.
XXRP is structured as an open-ended fund under the Investment Company Act of 1940. The product carries an adjusted net expense ratio of 2.77%, according to the provided fund details.
The ETF, as a result, is designed for experienced traders seeking tactical exposure to daily movements in XRP. Its daily rebalancing and compounding structure can cause performance to diverge from twice XRP’s return when held across multiple sessions, especially during volatile markets.
Shareholders Told No Action Is Required
Teucrium said the reverse split applies to all XXRP shareholders. The Trust’s transfer agent will notify DTC and instruct it to adjust each shareholder’s position according to the split ratio.
Shareholders with questions about how the reverse split affects their accounts were advised to contact their broker or financial adviser. Brokerage platforms may show adjusted share balances and prices once the split-adjusted trading begins.
The reverse split may also create odd-lot shares for certain authorized participants. Teucrium said each authorized participant will receive a one-time opportunity to redeem odd-lot shares that result from the transaction.
XXRP recently traded near $2.06, up 2.74% on the day, according to the provided market data. The fund’s 52-week range was listed between $1.93 and $70.99, reflecting the volatility associated with leveraged crypto-linked products.
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