Teucrium Files for Flare Network ETF as XRP Minting For FXRP Tops $120M

Teucrium Trading LLC has reportedly filed for a Flare ETF. The move comes as the Flare Network sees record activity, with XRP minting for its FXRP token surpassing $120 million.

Teucrium Moves to Bring Flare ETF to Market

According to reports, Teucrium has filed with the U.S. Securities and Exchange Commission (SEC) for a Flare ETF. The SEC has yet to confirm the details. However, the filing represents a step toward integrating the platform into investment products.

Co-Founder of Flare Networks, Hugo Phillion, also confirmed the filing in a recent X post. 

Teucrium had previously launched the first leveraged XRP ETF in the United States. Experts say approval of the fund would be a “validation moment” for the project.

The timing of the Flare ETF filing coincides with growth across Flare’s DeFi ecosystem. On-chain data shows that minting of FXRP has topped $120 million since its September debut.

FXRP enables holders to lock up XRP and mint equivalent ERC-20 tokens through its FAssets system. This gives users decentralized access to lending, liquidity, and yield strategies. This mechanism effectively converts the token into both collateral and liquidity across multiple DeFi protocols.

DeFi Growth Boosts Flare Network Activity

Since launching FXRP, the platform has become the largest EVM-compatible DeFi ecosystem built around the Ripple coin. Total value locked (TVL) on the platform has surged nearly 38% in just over a month. This is fueled mainly by liquidity migration from XRP holders seeking exposure to decentralized finance.

Messari noted in its latest report that the project’s demand is high. The initial 5 million FXRP mint cap filled within hours, and the subsequent 15 million limit was reached just as quickly. 

The research firm also emphasized the core support that has driven Flare’s rise. Its Flare Time Series Oracle (FTSO) and Flare Data Connector (FDC) enable decentralized data feeds and trustless bridging for non-smart-contract assets such as XRP. 

FLR has had trouble keeping up its upward momentum in spite of the adoption. Over the past month, the token has dropped by almost 38% to about $0.016, even though the overall FXRP usage in DeFi has risen above 60%.

Data suggests that many users prefer earning yields in stablecoins or XRP derivatives rather than accumulating FLR itself. SparkDEX’s relaunch of FXRP-based perpetual trading and inflows of over $120 million into the XRPFi ecosystem have yet to translate into sustained demand for FLR.