Canadian Asset Manager 3IQ launches a new XRP-centric ETF for North American users. 3IQ XRP ETF (XRPQ) began trading on the Toronto Stock Exchange (TSX) today, providing investors with direct contact to the fourth largest digital asset directly through market capitalization.
Ripple, XRP Ledger and the blockchain company behind XRP (XRP) Cryptocurrency, an early investor in the fund, 3IQ explain In Wednesday’s announcement. To commemorate the occasion, the 3IQ team will call TSX’s closing ceremony this afternoon.
The ETF debuted with a six-month 0% management fee. According to the announcement, it invests only in long-term XRP positions obtained from reputable exchanges and OTC platforms, and all shares are kept in refrigerated according to the announcement.
“The launch of XRPQ marks another milestone in our mission that can provide investors with convenient, cost-effective access to digital assets,” said Pascal St-Jean, president and CEO of 3IQ.
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New XRP ETFs used by investors around the world
XRPQ is available to Canadian investors through a registered account and is available to qualified international investors according to local rules.
“XRP has shown great growth potential over the past decade, and this groundbreaking strategy provides Canadian and qualified global investors with a transparent, low-cost and tax-efficient way to securely get this opportunity,” St. Jean added.
The launch is as institutions’ appetite for cryptocurrency risks continues to grow, especially in products with regulatory clarity and security surveillance structures.
Earlier this year 3iq Solana Staking ETF started. According to the company, the fund is now the largest Solana (sol) ETF, with assets under management exceeding US$120 million. 3IQ is also the first person to launch Bitcoin (BTC) and ether (ethereth) Funding from North American countries.
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More XRP funds rise market
3IQ’s latest ETF with another XRP-centric one emission Investments for trading its spot XRP ETFs starting this week.
The Securities and Exchange Commission owns Opened public opinion period For two proposed ETFs from Franklin Templeton, including the Franklin XRP ETF and the Franklin Solana ETF, both aim to list the CBOE BZX exchange.
Although Bitcoin and Ether ETFs Having received approval, the company is now competing for the first-place ETF launched for other major tokens, including XRP and Solana.
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