3iQ Launches XRP ETF on TSX with Zero Fees for First Six Months
Crypto asset manager 3iQ has rolled out a new exchange-traded fund (ETF) tied to XRP, now trading on the Toronto Stock Exchange under the ticker XRPQ, the firm announced Wednesday.
The new fund will carry a 0% management fee for its first six months and is available for investment through registered accounts in Canada. Its listing on the TSX also allows qualified investors worldwide to access it, subject to local regulations, according to 3iQ’s press release.
The launch comes amid growing momentum for XRP-related investment products. Just earlier this week, Purpose Investments revealed it would also begin trading a spot XRP ETF on the TSX under the ticker XRPP.
3iQ has a history of pioneering crypto ETFs in Canada, being among the first firms to list a bitcoin fund and the first to bring a publicly traded ether fund to the TSX. Notably, Ripple, the company behind the XRP token, is an early backer of 3iQ’s XRPQ fund, though the size of its investment remains undisclosed.
“XRP has shown significant growth potential over the past decade, and this innovative strategy gives Canadian and global investors a transparent, low-cost, and tax-efficient avenue to tap into that opportunity,” said Pascal St-Jean, president and CEO of 3iQ.
He added that Ripple Labs’ investment underscores both firms’ shared commitment to advancing the digital asset industry.
To celebrate the launch, the 3iQ team plans to ring the TSX’s closing bell later today, the company confirmed.
