Today, June 18, 2025, marks a significant milestone in the cryptocurrency investment landscape as 3iQ Corp. has officially launched its XRP ETF (XRPQ, XRPQ.U) on the Toronto Stock Exchange (TSX). This event not only provides North American investors with unprecedented access to XRP, the third-largest digital asset by market capitalization but also signifies growing institutional acceptance of cryptocurrencies as legitimate investment vehicles. The launch was commemorated with the 3iQ team ringing the closing bell at the TSX.
3iQ's XRP ETF is designed to offer investors long-term exposure to XRP in a transparent, cost-effective, and regulated manner. Notably, Ripple, the company behind XRP Ledger and XRP cryptocurrency is an early investor in the fund. To attract early investors, 3iQ is offering a 0% management fee for the first six months, positioning XRPQ as one of the most competitively priced digital asset ETFs currently available. The ETF will focus on long-term holdings of XRP, sourced from reputable digital asset trading platforms and over-the-counter (OTC) counterparties, ensuring that the underlying assets are securely stored in standalone cold storage.
The availability of XRPQ through registered accounts in Canada, coupled with its TSX listing, broadens access for qualified investors globally, subject to local regulations. This move underscores 3iQ's commitment to providing convenient and regulated access to digital assets. Pascal St-Jean, President and CEO of 3iQ, emphasized that the launch of XRPQ represents another step in the company's mission to make digital assets accessible within a regulated framework. He noted XRP's substantial growth potential over the past decade and highlighted that this new ETF offers a transparent, low-cost, and tax-efficient way for both Canadian and qualified global investors to participate in that growth.
The launch of 3iQ's XRP ETF comes at a time when institutional interest in cryptocurrency exposure is on the rise. This demand is particularly strong for products that offer regulatory clarity and secure custody solutions. 3iQ has previously demonstrated its commitment to innovation in the digital asset space with the launch of the Solana Staking ETF earlier this year.
Other companies are also launching XRP ETFs. Purpose Investments has launched the Purpose XRP ETF (XRPP). These ETFs hold physical XRP, and this is a massive milestone for both retail and institutional adoption. All the ETFs will offer USD classes as well. This move could put some pressure on the US regulators to move faster and approve US spot XRP ETFs. Canadian crypto ETFs hold around $8B in assets. With XRP making up ~4% of the crypto market, a rough estimate suggests $200–300M could flow into these ETFs.
The introduction of XRP ETFs in Canada could potentially influence regulators in the United States to expedite their decisions on pending spot XRP ETF applications. The Canadian market's embrace of XRP investment products may serve as a precedent, demonstrating the feasibility and demand for such offerings.
