Canada has become the first country globally to launch a Spot XRP ETF, opening new opportunities for investors in digital assets. The ETF was launched by 3iQ and is available on the Toronto Stock Exchange.
Launch of the First Spot XRP ETF
3iQ has launched the world's first Spot XRP ETF, which is now trading under the tickers TSX: XRPQ and XRPQ.U on the Toronto Stock Exchange. 3iQ's President and CEO Pascal St-Jean noted that this launch marks a significant milestone in the company's efforts to provide investors with convenient access to digital assets within a regulated framework.
Positioning and ETF Benefits
According to 3iQ, XRPQ features a 0% management fee for the first six months. The ETF will invest only in long-term XRP holdings purchased from reputable trading platforms. XRP will be stored in fully secured cold storage. St-Jean also emphasized that XRP has demonstrated significant growth potential over the past decade, making the ETF a transparent, accessible, and tax-efficient investment vehicle.
Next Steps in Crypto Investing
Additionally, Purpose Investments has announced the upcoming launch of its own XRP ETF, set to trade under the ticker XRPP. Purpose's Chief Innovation Officer Vlad Tasevski noted that this initiative reinforces Canada's leadership in crypto regulation. The new ETF will be available in CAD-hedged, CAD non-hedged, and USD formats, allowing for issuance through registered accounts such as TFSAs and RRSPs.
The launch of the first Spot ETFs on XRP in Canada marks an important step in the evolution of crypto investing and demonstrates the growing interest in digital assets. Such initiatives are expected to attract more investors and expand opportunities in the market.
