XRP News Today: 3iQ’s XRP ETF Accumulates CAD 23 Million in 72 Hours

3iQ’s newly launched XRP ETF (XRPQ) has rapidly accumulated CAD 23 million ($16.7 million) in assets under management within just 72 hours, indicating a surge in institutional interest in the cryptocurrency. The fund, which began trading on June 18 on the Toronto Stock Exchange (TSX), has quickly outpaced competitors to become the largest XRP-focused ETF in the country. This rapid success highlights the growing demand for altcoin ETFs and the potential for broader institutional participation in the XRP market.

XRPQ entered the market with significant momentum, supported by a six-month 0% management fee and direct investment from Ripple itself. The fund holds long-term XRP positions sourced from vetted exchanges and OTC providers, with assets stored in cold wallets to bolster security. This strategic approach has attracted strong early institutional interest, outpacing Purpose Investments’ XRPP, which launched on the same day but has attracted only CAD 10.7 million ($7.8 million) in AUM so far. By June 20, XRPQ closed at CAD 13.36 ($9.71), significantly higher than XRPP’s CAD 9.66 ($7.02), highlighting stronger initial demand.

3iQ’s reputation in the Canadian market likely contributed to the fast inflow. The firm already manages a number of digital asset products, including Bitcoin and Solana-based funds. Earlier this year, its Solana Staking ETF raised CAD 90 million ($65 million) in just two days, a pattern of early investor enthusiasm that XRPQ appears to be repeating. The fund offers exposure to XRP without requiring direct token purchases, making it a practical entry point for traditional investors. Canadian residents can access it through standard brokerage accounts, while international investors may also participate depending on jurisdictional rules.

With Ripple’s strategic involvement and strong early uptake, XRPQ may set a precedent for altcoin ETFs beyond Bitcoin and Ethereum. Attention now turns to the US, where more than 10 XRP ETF applications are pending before the SEC. Decisions are expected later in 2025, with approval potentially opening the door to broader global access and institutional participation in XRP markets. The SEC has already acknowledged XRP’s 19b-4 filings, with a final decision expected by October 17, 2025. This development could indicate that institutional players are looking for ways to leverage their crypto assets without liquidating them.

In May, VivoPower, a publicly listed firm, invested $121 million in XRP as a strategic reserve, making it the first company in the world with an XRP-focused treasury. This move, along with the partnership with the Flare blockchain to generate yield from its XRP holdings, suggests that institutional players are increasingly interested in leveraging their crypto assets. The rapid success of 3iQ’s XRP ETF signals a growing institutional demand for altcoin ETFs and sets a precedent for future developments in the cryptocurrency market.