An important event in the cryptocurrency world has occurred with the launch of the 3iQ XRP ETF, providing investors the opportunity for long-term investments in XRP.
Launch of 3iQ XRP ETF
3iQ, a leading digital asset investment firm, has officially launched the 3iQ XRP ETF, trading on the Toronto Stock Exchange under the symbols XRPQ and XRPQ.U. This ETF is one of the first in North America to offer investors access to XRP, the fourth largest cryptocurrency by market capitalization. Ripple is an early investor in the fund.
Additionally, 3iQ announced that there will be a 0% management fee for the first six months of the fund's operation.
XRP Growth and Recent Updates
The 3iQ XRP ETF provides investors with exposure to a digital asset that has grown by 10,800% since January 2015. 3iQ will be present on the exchange to officially start trading XRPQ on opening day. Meanwhile, discussions around a potential XRP ETF in the U.S. are gaining traction. According to journalist Eleanor Terrett, the SEC has invited public comment on CBOE’s proposal to list the Franklin Templeton XRP spot ETF, suggesting a discussion process with a deadline for comments in late July.
Overview of XRP Ledger
According to a report from analytics platform Santiment, the XRP Ledger is showing significant growth in both usage and key stakeholder engagement. Over the past week, the average number of interacting XRP addresses was over 295,000 per day, while the three-month average was around 35,000-40,000. For the first time in over 12 years of XRP’s history, more than 2,700 'whale' and 'shark' wallets are now holding at least one million XRP.
The launch of the 3iQ XRP ETF marks a significant step towards the legalization and integration of cryptocurrencies into traditional financial markets. The development of XRP Ledger and potential ETFs in the U.S. could further spur interest in XRP.
