New fund offers zero management fees for initial six months and cold storage for secure holdings

Canadian asset management firm 3iQ has officially launched its XRP-focused Exchange-Traded Fund (ETF) — the 3iQ XRP ETF (XRPQ) — on the Toronto Stock Exchange (TSX). This new offering aims to provide North American and international investors with direct exposure to XRP, the world’s fourth-largest cryptocurrency by market capitalisation.

The ETF began trading today with the added advantage of zero management fees for the first six months. Ripple, the blockchain firm behind the XRP Ledger, is an early investor in the fund. In celebration of the launch, the 3iQ team is set to ring the TSX’s closing bell this afternoon.

A Regulated Gateway to XRP Investment

According to 3iQ, the XRPQ ETF invests exclusively in long-term XRP holdings, sourced from reputable exchanges and over-the-counter (OTC) platforms. All assets are stored in cold wallets, ensuring enhanced security for investors.

Pascal St-Jean, President and CEO of 3iQ, stated, “The launch of XRPQ marks another milestone in our mission to provide investors with convenient, cost-effective access to digital assets within a regulated framework.”

The firm highlights the product as a transparent, tax-efficient, and low-cost vehicle to gain exposure to XRP, which has exhibited notable growth potential over the past decade.

Open to Global Investors

While the ETF is designed primarily for Canadian investors and is accessible through registered investment accounts, it is also available to qualified international investors, subject to regional regulatory rules.

“XRP has demonstrated significant growth potential over the past decade, and this groundbreaking strategy offers Canadian and qualified global investors a transparent, low-cost and tax-efficient way to securely access that opportunity,” St-Jean added.

3iQ’s Growing Crypto Fund Portfolio

The XRPQ ETF is the latest addition to 3iQ’s expanding suite of digital asset investment products. Earlier this year, the company launched the Solana Staking ETF, which has since grown to become the largest Solana ETF in Canada, boasting over $120 million in assets under management.

3iQ was also the first Canadian asset manager to launch both Bitcoin and Ether funds, reinforcing its position as a pioneer in regulated crypto investment solutions.

More XRP ETFs Enter the Market

The launch of XRPQ coincides with another significant development in the space: Purpose Investments, another Canadian firm, has also rolled out its own spot XRP ETF this week.

Meanwhile, in the United States, regulatory momentum is building. The Securities and Exchange Commission (SEC) has opened a public comment period for two proposed ETFs from Franklin Templeton — the Franklin XRP ETF and the Franklin Solana ETF — which aim to list on the Cboe BZX Exchange.

With Bitcoin and Ether ETFs already securing regulatory approval, asset managers are now competing to be first to market with spot ETFs for other major tokens, including XRP and Solana.