3iQ Launches XRP ETF on Toronto Stock Exchange, Offering Fee-Free Period

Crypto asset manager 3iQ has rolled out a new exchange-traded fund (ETF) focused on XRP, now trading on the Toronto Stock Exchange under the ticker symbol XRPQ.

The newly launched 3iQ XRP ETF will feature a 0% management fee for its first six months, providing an incentive for early investors. The fund will be accessible through registered investment accounts in Canada, while its TSX listing also opens the door to qualified investors worldwide, subject to each jurisdiction’s regulations, according to 3iQ’s announcement on Wednesday.

This launch comes just days after Purpose Investments unveiled its own spot XRP ETF, which began trading Wednesday under the ticker XRPP on the TSX.

3iQ has a history of pioneering crypto investment products in Canada. It was among the first to list a bitcoin fund on the TSX and also introduced the first publicly traded ether fund in Toronto. Ripple, the company behind the XRP token, is an early investor in 3iQ’s new XRPQ fund, although the size of Ripple’s stake has not been disclosed.

“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,” said Pascal St-Jean, president and CEO of 3iQ.

He added that Ripple Labs’ backing underscores their mutual commitment to expanding the digital asset landscape.

To mark the launch, the 3iQ team will ring the closing bell at the TSX on Wednesday afternoon.