Teucrium Trading LLC has filed with the SEC for a Flare Network ETF, coinciding with a surge in FXRP minting that has exceeded $120 million in value. The filing progressed automatically due to an SEC operational shutdown, leveraging regulatory provisions that allow such applications to become effective without active approval.
Hugo Philion, co-founder of Flare Network, confirmed the development on social media, stating, "It certainly does appear that a licensed financial entity has filed for a Flare ETF." This move highlights growing institutional interest in Flare's DeFi ecosystem, with FXRP minting—a tokenized version of XRP on the Flare Network—driving significant liquidity into decentralized finance protocols.
Teucrium, which previously launched a leveraged XRP ETF, is spearheading this initiative, though capital allocation details remain undisclosed. The increased FXRP activity has already boosted Flare Network's total value locked (TVL) by 38%, enhancing lending and yield strategies. Historical precedents, such as Teucrium's earlier XRP ETF approval during a government shutdown, suggest similar outcomes here, raising questions about regulatory oversight and potential market expansion.
MIM
LTC
BTC
ETH
ZK