3iQ has launched North America's first XRP ETF, now trading on the Toronto Stock Exchange under the tickers XRPQ and XRPQ.U. This move provides traditional investors access to the digital asset XRP.
What is the XRP ETF?
The XRP ETF offers direct exposure to the XRP token, which is used on a blockchain known for its fast and low-cost transactions. The new fund represents an opportunity for investors to benefit from XRP's growth through regulated platforms.
Ripple's Support and Asset Quality
What adds weight to the launch is Ripple's early investment in the ETF. This showcases growing institutional interest in the ties between XRP and traditional markets. The fund will hold 100% of its assets in spot XRP, with no derivatives, sourcing assets from regulated exchanges.
Advantages of the New ETF
The launch of XRPQ includes a 0% management fee for the first six months, making it attractive for long-term investors seeking access to XRP without the hassle of managing wallets and keys. Additionally, the product offers institutional-grade custody and regulatory compliance.
The launch of 3iQ's XRP ETF marks a significant step towards integrating digital assets into traditional financial instruments. With support from Ripple and favorable investor conditions, XRP now stands alongside Bitcoin and Ethereum.
