3iQ Launches XRP ETF on Toronto Stock Exchange
3iQ, a leading Canadian asset manager, has introduced the XRP-focused Exchange-Traded Fund (ETF), XRPQ, on the Toronto Stock Exchange (TSX). This ETF offers investors direct exposure to XRP, the fourth-largest cryptocurrency by market capitalization. Ripple, the blockchain company behind the XRP Ledger, is an early investor in the fund, underscoring its confidence in this innovative financial product.
Key Features of the XRPQ ETF
- No management fees for the first six months
- Exclusively invests in long-term XRP positions from reputable exchanges and OTC platforms
- All holdings securely stored in cold storage
Accessibility and Regulatory Compliance
The XRPQ ETF is available to Canadian investors through registered accounts and to qualified international investors, subject to local regulations. This launch reflects growing institutional demand for cryptocurrency products with clear regulatory frameworks and secure custody solutions.
3iQ’s Leadership in Crypto ETFs
3iQ has established itself as a pioneer in the cryptocurrency ETF space. The firm previously launched North America’s first Bitcoin (BTC) and Ether (ETH) funds. Its Solana Staking ETF is now the largest Solana (SOL) ETF, with over $120 million in assets under management.
Competitive Landscape for Crypto ETFs
The cryptocurrency ETF market is becoming increasingly competitive. In the United States, the Securities and Exchange Commission (SEC) is reviewing proposals for new ETFs, including the Franklin XRP ETF and the Franklin Solana ETF, both targeting listing on the Cboe BZX Exchange.
“The launch of XRPQ represents a significant step forward in providing investors with regulated, cost-effective access to digital assets,” said Pascal St-Jean, President and CEO of 3iQ.
