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New XRP ETF Launches in Canada: Ripple Backs 3iQ's New Offering on Stock Exchange

In a notable move for the cryptocurrency sector, Canadian asset manager 3iQ has launched the 3iQ XRP ETF (XRPQ) on the Toronto Stock Exchange.

This new offering allows North American investors to gain direct access to XRP without the necessity of purchasing the cryptocurrency itself.

Ripple, the company behind XRP, has invested in the fund, demonstrating a solid commitment to supporting this venture.

To encourage initial investment, the ETF will feature a promotional 0% management fee for the first six months.

All assets acquired for XRPQ will be securely stored in cold storage, ensuring safety for investors.

3iQ's President and CEO, Pascal St-Jean, has highlighted the ETF’s potential as a transparent, low-cost investment opportunity for both Canadian and international investors.

The launch comes amid a growing institutional appetite for cryptocurrency investment products, particularly as regulatory clarity improves.

Competition is heating up, with another crypto manager, Purpose Investments, also unveiling its own XRP ETF on the same exchange.

Market analysts remain optimistic, suggesting that spot XRP ETFs could see approval in the U.S. as soon as 2025.

With XRP currently trading around $2.14, interest in these newly launched funds is likely to escalate among investors.