The Canadian Asset Manager 3IQ has launched a brand new XRP ETF for North American users. The 3IQ XRP ETF (XRPQ) began trading with the Toronto Stock Exchange (TSX) today and offers investors direct engagement on the fourth largest digital asset after market capitalization.
Ripple, the Blockchain company behind the XRP -Ledger and the XRP (XRP) cryptocurrency, is an early investor within the fund, 3IQ announced in an announcement on Wednesday. To mark this occasion, the 3IQ team rings the ultimate bell of the TSX this afternoon.
The ETF debut a six-month management fee of 0%. It invests exclusively in long-term XRP positions acquired by renowned exchange and OTC platforms, whereby all components are kept in cooling storage in accordance with the announcement.
“The introduction of XRPQ is one other milestone in our mission to supply investors a snug, inexpensive access to digital assets inside a regulated framework,” said Pascal ST-JEAN, President and CEO of 3IQ.
Source: 3iq
New XRP -TF available for global investors
XRPQ is Canadian investors via registered accounts and is accessible depending on the local rules of qualified international investors.
“XRP has shown a major growth potential previously ten years, and this groundbreaking strategy offers Canadian and qualified global investors a transparent, inexpensive and tax choice to access this chance,” added ST-JEAN.
The start comes when the institutional appetite for crypto exposure continues to grow, especially in products with regulatory clarity and protected custody structures.
At the start of this 12 months, 3IQ began the Solana. According to the corporate, the fund is now the most important Solana (SOL) -TF with over 120 million US dollars in assets. 3IQ was also the primary to start out Bitcoin (BTC) and Ether (Eth) within the North American country.
More XRP funds meet the markets
The latest ETF of 3IQ arrives with one other XRP focus of purpose investments, which this week also began trading with the spot XRP-ETF.
The US Securities and Exchange Commission has opened a public commentary period for 2 proposed ETFs by Franklin Templeton, including the Franklin XRP ETF and the Franklin Solana ETF, each of which aim to take heed to CBOE BZX Exchange.
Although Bitcoin and Ether ETFs have already been approved, firms are actually competing for the introduction of the primary Spot ETFs for other large tokens, including XRP and Solana.
