Discussions about Canada becoming the first North American country to launch XRP ETFs are heating up in the crypto space.
Launch of XRP ETFs in Canada
Two Canadian asset managers, 3iQ and Purpose Investments, have begun trading their XRP ETFs on the Toronto Stock Exchange (TSX). These funds provide investors with access to the fourth-largest cryptocurrency without needing to manage it directly.
Structure and Terms of ETFs
3iQ's XRP ETF trades under the ticker XRPQ, while Purpose's fund trades under XRPP, XRPP.B, and XRPP.U. 3iQ confirmed that Ripple, the company behind XRP, is an early investor in its fund. The ETF also offers a six-month 0% management fee and stores its holdings in secure cold storage.
Comparison with the USA and Future Regulation
The ETFs are not only available to Canadian investors but also to certain international investors, depending on local regulations. Meanwhile, the U.S. is still awaiting regulatory approval for XRP ETFs, with applications under review. Experts believe the U.S. might miss this opportunity if it continues to delay.
The launch of XRP ETFs in Canada marks a significant step in the cryptocurrency sector and may influence the future regulation of digital assets in the U.S.
