XRP News Today: 3iQ XRP ETF Excludes Retail Investors, Offers Institutional Pricing

In a bold statement, the CEO of 3iQ, Pascal St-Jean, asserted that no retail investor can purchase XRP at the price offered by their newly launched XRP ETF, 3iQ XRP ETF (XRPQ). This claim comes as Canada takes significant steps in the realm of altcoin ETFs, with 3iQ and Purpose launching XRP ETFs in the country.

3iQ's XRP ETF, launched with zero management fees for the first six months, provides institutional investors with access to XRP at rates that are not available to retail investors. St-Jean emphasized that the pricing and storage secured by their ETF are unmatched by any retail offering. He stated, "No retail advisor or investor can purchase XRP at the price we are offering globally."

This development marks a notable shift in the institutional adoption of XRP. The 3iQ XRP ETF has quickly become the largest XRP ETF in Canada, highlighting the growing interest and investment from institutional players. Even after the zero-fee period concludes, XRPQ is poised to remain the most cost-effective XRP ETF on the market.

Ripple, the company behind XRP, has expressed support for ETFs in Canada, noting that it was an early backer of these financial instruments. The launch of XRP ETFs in Canada is seen as a significant milestone, potentially paving the way for similar approvals in other regions, including the US, where ETF approval for altcoins like XRP, Solana (SOL), and Cardano (ADA) is anticipated.

This move by 3iQ underscores the competitive advantage that institutional investors have in accessing digital assets at preferential rates, a trend that is likely to continue as more countries explore the regulation and adoption of cryptocurrency ETFs. The success of XRPQ in Canada serves as a testament to the growing institutional interest in XRP and the potential for further expansion in the global market.