- Ripple-backed XRPQ ETF offers regulated access to XRP in Canada.
- XRPQ’s management fees waived for six months to attract early investors.
- U.S. XRP ETF proposals are being reviewed, signaling potential approval.
3iQ, a prominent Canadian digital asset manager, has officially launched the first XRP-focused exchange-traded fund (ETF) in North America, XRPQ. This ETF, which began trading on the Toronto Stock Exchange (TSX), represents a significant milestone in providing regulated access to XRP, Ripple’s native cryptocurrency. Ripple itself supports XRPQ, having made an early investment in the fund.
The ETF is designed to give investors regulated exposure to XRP, the fourth-largest cryptocurrency by market capitalization. As part of the offering, 3iQ has waived management fees for the first six months, providing an incentive for early investors to participate.
According to Pascal St-Jean, CEO of 3iQ, the ETF aims to offer investors a transparent, cost-effective, and secure way to invest in digital assets within a regulated environment.
Ripple’s Role and Institutional Interest
Ripple’s backing of the XRPQ ETF underscores the growing institutional interest in cryptocurrencies and blockchain technology. XRPQ’s launch is part of 3iQ’s broader mission to facilitate secure, regulated access to digital assets for institutional investors.
All XRP holdings in the ETF are acquired from reputable exchanges and over-the-counter (OTC) platforms, with the assets securely stored in cold storage.
The ETF’s launch comes as institutional demand for cryptocurrency products continues to rise, with investors seeking reliable, regulated pathways into the digital asset space. In addition to XRPQ’s success in Canada, the U.S. is also moving closer to the approval of XRP-focused ETFs.
The WisdomTree XRP Trust, for instance, has filed with the SEC to be listed on the Cboe BZX Exchange. If approved, it would provide U.S. investors with a regulated method to gain exposure to XRP without the need for direct ownership.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
