XRP News Today: 3iQ XRP ETF Surpasses $50 Million in Assets Under Management

3iQ Digital Asset Management has announced that its spot XRP-based ETF has surpassed $50 million in assets under management, marking a significant milestone for the fledgling product that debuted last month. This achievement positions it as the largest North American spot ETF focused on the Ripple-linked token. The success of the product is attributed to both retail and institutional investors, according to CEO and President Pascal St-Jean.

3iQ was among the first issuers to launch a spot ETF in Canada, alongside Purpose Investments and Evolve Funds Group, which also debuted competing products tied to the popular altcoin on the same day. The ETF is one of the first in North America providing exposure to XRP, the third largest crypto asset by market capitalization, excluding stablecoins.

Canada's ETF market, while relatively small compared to that of the US, has seen significant growth in the crypto sector. Several issuers are vying to launch a spot XRP ETF in the US. However, such a product is yet to be approved by the SEC. More than a dozen filings remain under review, and their approval is not expected to take place until the fourth quarter of 2025. The regulatory process for crypto ETF approval continues to be streamlined, and there is a possibility that an XRP ETF might end up being stuck in a regulatory limbo. Despite this, Polymarket bettors remain bullish on XRP ETF approval odds in 2025, with such a product having an 84% chance of being greenlit this year, down from 98% in early June.