Ripple-Backed XRP ETF Launches in Canada with 0% Management Fee

3iQ Corp. launched a spot-based XRP ETF, XRPQ, on the Toronto Stock Exchange with a 0% management fee for six months. This ETF allows retail and institutional clients to own XRP without managing private wallets or unregulated platforms.

Key Features

XRP is held in cold storage, ensuring security for individual investors.
The fund will purchase XRP from regulated sources similar to other digital asset funds.
Ripple has invested in the fund, signifying confidence in XRPQ's structure amidst ongoing regulatory uncertainty.

XRP Price Growth

XRP's price increased by approximately 10,700% from $0.02 in 2015 to around $2.16 currently. This growth supports the launch of XRPQ as a simplified investment vehicle for Canadians and qualified overseas investors.

Additional Developments

Purpose Investments also launched an XRP ETF, XRPP, on the same day as XRPQ.
There are over 10 applications for a spot XRP ETF pending approval in the US, with potential approval expected by October 2025.
Canada is currently leading in crypto-ETF innovation.

The introduction of XRPQ showcases a growing acceptance of digital assets within traditional markets.