The bold statement made by 3iQ CEO Pascal St-Jean that retail investors cannot access XRP at the same pricing as institutional players has sparked significant discussion within the community.
3iQ XRP ETF Launch
On June 18, 2025, 3iQ, a leading Canadian digital asset manager, launched its XRP ETF (trading under tickers XRPQ and XRPQ.U) on the Toronto Stock Exchange. The fund offers direct exposure to XRP with a six-month waiver on management fees, and all assets are held in institutional-grade cold storage. Ripple, the company behind XRP, has backed the ETF as an early supporter.
Price Advantage for Institutional Investors
Pascal St-Jean’s comment regarding institutional pricing has fueled much speculation. However, for those familiar with institutional trading, his point is clear: 3iQ acquires XRP through over-the-counter channels and bulk purchase agreements that provide significantly better rates than those available to retail investors on centralized exchanges.
The Divide Between Retail and Institutional Markets
This pricing gap illustrates a broader truth in the digital asset space: institutional investors operate by a different set of rules. With access to regulated vehicles, professional custody infrastructure, and preferential pricing, firms like 3iQ can maximize exposure while minimizing costs and risks. Meanwhile, retail investors are typically confined to public exchanges with wider spreads and higher fees.
St-Jean's statement highlights the growing divide between institutional and retail investors in the crypto space. As institutional interest in XRP continues to rise, this gap becomes increasingly relevant in market dynamics.
