Daniel Walker
Canadian digital asset management firm 3iQ has officially launched an XRP exchange-traded fund (ETF) on the Toronto Stock Exchange (TSX), marking a significant milestone for XRP investors.
The newly listed fund, XRPQ, will waive all management fees for the first six months, offering investors a cost-effective entry into one of the most prominent cryptocurrencies. Available through registered investment accounts across Canada, the ETF also opens the door to qualified international investors, depending on their local regulatory environment, the company said in a statement.
Another XRP ETF Joins the TSX Lineup
The announcement follows closely on the heels of Purpose Investments, which earlier this week revealed it would also begin trading a spot XRP ETF on the TSX under the ticker XRPPโhighlighting growing institutional interest in the digital asset.
3iQ has previously made headlines as one of the earliest fund managers to offer publicly listed Bitcoin and Ethereum funds in Canada. The launch of XRPQ continues that legacy of innovation. Notably, Ripple Labs, the company behind the XRP token, is an early investor in this new fund, although the specific amount remains undisclosed.
Offering a Transparent and Tax-Efficient XRP Investment Route
Pascal St-Jean, President and CEO of 3iQ, emphasized the long-term potential of XRP:
โOver the past decade, XRP has shown compelling growth characteristics,โ St-Jean said. โOur ETF strategy enables Canadian and global investors to access this asset in a transparent, low-cost, and tax-efficient manner.โ
He added that Rippleโs backing represents a shared commitment to digital asset innovation.
Closing Bell Ceremony to Mark the Launch
To celebrate the fundโs debut, the 3iQ team will be ringing the TSXโs closing bell later todayโa symbolic gesture highlighting the firmโs growing influence in the crypto investment space.
