XRP News Today: 3iQ Launches XRP ETF on Toronto Stock Exchange with 0% Management Fee

Canadian asset manager 3iQ has launched the 3iQ XRP ETF (XRPQ) on the Toronto Stock Exchange, providing North American users with direct exposure to XRP, the fourth-largest digital asset by market cap. Ripple, the blockchain company behind the XRP Ledger and the XRP cryptocurrency, is an early investor in the fund, highlighting the strategic partnership between the two entities. The ETF began trading today, with the 3iQ team ringing the TSX’s closing bell to mark the occasion.

The 3iQ XRP ETF debuts with a six-month 0% management fee, offering investors a cost-effective entry point into the digital asset market. The ETF invests exclusively in long-term XRP positions acquired from reputable exchanges and over-the-counter (OTC) platforms, with all holdings kept in cold storage to ensure security. This approach is in line with 3iQ's mission to provide investors with convenient, cost-effective access to digital assets within a regulated framework.

Pascal St-Jean, president and CEO of 3iQ, emphasized the significance of the launch, stating that the ETF marks another milestone in their mission to provide investors with convenient, cost-effective access to digital assets within a regulated framework. He noted that XRP has demonstrated significant growth potential over the past decade, and this groundbreaking strategy offers Canadian and qualified global investors a transparent, low-cost, and tax-efficient way to securely access that opportunity.

The launch of the 3iQ XRP ETF comes at a time when institutional appetite for crypto exposure continues to grow, particularly in products with regulatory clarity and secure custody structures. Earlier this year, 3iQ launched the Solana Staking ETF, which has since become the largest Solana (SOL) ETF, with over $120 million in assets under management. The firm was also the first to launch Bitcoin (BTC) and Ether (ETH) funds in North America, solidifying its position as a leader in the digital asset investment space.

The 3iQ XRP ETF is available to Canadian investors through registered accounts and is accessible to qualified international investors, depending on local rules. This global accessibility further expands the investment opportunities for those seeking exposure to XRP. The launch of the ETF also coincides with another XRP-focused launch from Purpose Investments, which began trading its spot XRP ETF this week. This competitive landscape underscores the growing interest in XRP and the broader digital asset market.

In the US, the Securities and Exchange Commission has opened a public comment period for two proposed ETFs from Franklin Templeton, including the Franklin XRP ETF and the Franklin Solana ETF, both aiming to list on the Cboe BZX Exchange. Although Bitcoin and Ether ETFs have already been approved, firms are now competing to launch the first spot ETFs for other major tokens like XRP and Solana.

In summary, the launch of the 3iQ XRP ETF on the Toronto Stock Exchange represents a significant development in the digital asset investment landscape. With Ripple as an early investor and a six-month 0% management fee, the ETF offers investors a cost-effective and secure way to gain exposure to XRP. The launch aligns with the growing institutional appetite for crypto exposure and 3iQ's mission to provide convenient, cost-effective access to digital assets within a regulated framework. The ETF's global accessibility and the competitive landscape further underscore the growing interest in XRP and the broader digital asset market.