XRP ETF Launch: 3iQ Introduces Breakthrough Fund on Toronto Stock Exchange with Ripple Investment

Big news for crypto investors, especially those eyeing XRP! Canadian asset manager 3iQ has just launched a new investment product that provides direct exposure to the popular digital asset. The XRP ETF, known by its ticker XRPQ, is now trading on a major North American exchange, marking a significant step for broader adoption.

3iQ Launches XRP ETF on TSX

Leading Canadian digital asset manager 3iQ has officially launched its dedicated XRP exchange-traded fund (ETF). Trading commenced today on the Toronto Stock Exchange (TSX), offering investors a regulated and accessible way to gain exposure to XRP, which is currently one of the largest cryptocurrencies by market capitalization. This launch expands 3iQ’s suite of digital asset products available to investors.

Ripple Investment and Fund Specifics

Adding notable weight to the launch, Ripple, the company associated with the XRP Ledger and the XRP cryptocurrency, has been confirmed as an early investor in the fund. 3iQ announced this development alongside the ETF’s debut. To celebrate, the 3iQ team participated in ringing the TSX closing bell. The fund, the 3iQ XRP ETF (XRPQ), begins trading with an attractive incentive: a zero percent management fee for the initial six months. The fund’s strategy involves investing exclusively in long-term XRP holdings, sourced from established exchanges and over-the-counter platforms. Security is a priority, with all fund assets held in cold storage.

Accessing the Toronto Stock Exchange XRP ETF

The XRPQ ETF is designed to be accessible. Primarily available to Canadian investors through registered investment accounts, it also opens doors for qualified international investors, depending on their local regulatory environments. Pascal St-Jean, President and CEO of 3iQ, highlighted that this strategy offers Canadian and eligible global investors a transparent, cost-effective, and tax-efficient method to securely access XRP’s potential. The launch aligns with the growing institutional demand for digital asset exposure within clear regulatory frameworks and secure custody solutions.

Growing Crypto ETF Canada Landscape

3iQ has been a pioneer in the Crypto ETF Canada market. The firm was the first to introduce Bitcoin and Ether funds in the country. More recently, they launched the Solana Staking ETF, which has quickly become the largest Solana ETF globally, managing over $120 million in assets. The launch of the 3iQ XRP ETF also coincides with increasing activity in the altcoin ETF space. Another Canadian firm, Purpose Investments, also launched its spot XRP ETF this week. Furthermore, in the United States, the SEC has opened public comment periods for proposed Franklin Templeton ETFs, including one focused on XRP and another on Solana, aiming for listing on the Cboe BZX Exchange. While Bitcoin and Ether ETFs have received US approval, the race is on among firms to launch the first spot ETFs for other prominent digital assets like XRP and Solana.

Why the XRP ETF Matters

This launch is significant for several reasons. It provides investors with a regulated investment vehicle for XRP, potentially attracting capital that might be hesitant to directly hold the cryptocurrency. The involvement of Ripple as an investor adds credibility. The zero-fee period makes it a compelling option for early adopters. As institutional interest in crypto grows, products like the 3iQ XRP ETF on the Toronto Stock Exchange play a crucial role in bridging traditional finance with the digital asset market.

Conclusion

The debut of the 3iQ XRP ETF on the Toronto Stock Exchange, supported by a Ripple investment and featuring an initial zero-fee period, represents a key development in the accessibility of digital assets through regulated financial products. This move not only provides Canadian and qualified global investors with a new way to invest in XRP but also underscores the increasing institutional confidence and interest in altcoins, signaling potential further growth in the crypto ETF market.