XRP News Today: 3IQ Launches XRP ETF on TSX with Six-Month Fee Waiver

3IQ Corp., a prominent digital asset manager, has launched the 3IQ XRP ETF (TSX: XRPQ, XRPQ.U) on the Toronto Stock Exchange, marking a significant milestone in the expanding crypto ETF market. This ETF is dedicated to providing investors with exposure to XRP, the native cryptocurrency of the Ripple network, known for its fast and low-cost international money transfers. The ETF, which commenced trading on June 18, offers a six-month waiver on management fees, positioning it as a cost-effective vehicle for long-term exposure to XRP.

The ETF exclusively invests in XRP obtained from credible exchanges and OTC platforms, with assets held in secure cold storage. Ripple, a major blockchain infrastructure firm, is an early investor in the fund, reinforcing its relevance within the institutional digital asset space. This development follows 3IQ’s successful rollout of the Solana-focused SOLQ ETF earlier this year, which has already surpassed $120 million in assets under management. The XRP ETF continues this momentum, aligning with 3IQ’s strategy of pioneering regulated, first-of-their-kind digital asset investment solutions.

On the same day, two other XRP ETFs—Evolve XRP ETF and Purpose XRP ETF—also began trading on the TSX. Despite ongoing regulatory challenges in some jurisdictions, the emergence of regulated XRP vehicles suggests growing confidence and demand for structured crypto exposure. Proponents of digital assets argue that such developments demonstrate the viability of crypto investments within traditional financial ecosystems.

The launch of the 3iQ XRP ETF is significant for several reasons. Firstly, it offers investors a convenient and regulated way to gain exposure to XRP without the complexities of directly holding and managing the cryptocurrency. Secondly, it provides liquidity and transparency, as ETFs are traded on stock exchanges and are subject to regulatory oversight. This can attract a broader range of investors, including those who are new to the cryptocurrency space but are familiar with traditional investment vehicles.

Moreover, the backing of Ripple, a well-known player in the blockchain and cryptocurrency industry, adds credibility to the ETF. Ripple has been at the forefront of developing solutions for cross-border payments and has partnerships with numerous financial institutions worldwide. This association can instill confidence in investors, knowing that the ETF is supported by a reputable and experienced company in the field.

The launch of the 3iQ XRP ETF also reflects the evolving landscape of the cryptocurrency market. As digital assets continue to gain mainstream acceptance, there is a growing demand for investment products that provide exposure to these assets in a regulated and accessible manner. ETFs have proven to be a popular choice for investors seeking to diversify their portfolios and gain exposure to new asset classes.

In summary, the debut of the 3iQ XRP ETF on the Toronto Stock Exchange marks a significant development in the cryptocurrency investment landscape. It offers investors a transparent and cost-effective way to gain exposure to XRP, backed by the credibility of Ripple. As institutional interest in digital assets continues to grow, the launch of the 3iQ XRP ETF is a testament to the increasing acceptance and integration of cryptocurrencies into the traditional financial system.