Crypto Asset Manager 3IQ introduces XRP
The company said Wednesday that the Toronto Stock Exchange’s exchange-traded funds (ETFs).
According to the press release, the 3IQ XRP ETF (TSX:XRPQ) will be invested through a registered account in Canada at a 0% administration fee of 0% in the first six months, and its TSX listing can give qualified investors around the world access to local regulations.
Earlier this week, Asset Manager Purpose investment announcement It will also trade from the Toronto Stock Exchange XRP ETF under XRPP stock on Wednesday.
3IQ is one of the first fund managers to list Bitcoin
fund, With its Bitcoin Fund on TSXthe first one Publicly listed Ether Fundalso in Toronto. Ripple, the creator of XRP token, was an early investor in the 3IQ XRPQ vehicle (the amount of investment was not disclosed).
“XRP has shown enormous 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,” said Pascal St-Jean, president and CEO of 3IQ.
“Ripple Labs’ investment support reflects our co-leading in advancing the digital asset space,” he said.
The company said the 3IQ team will ring the bell on the TSX floor this afternoon in honor of the ETF launch.
Read more: Spot XRP ETF to start trading in Canada this week after regulatory nods, Token rises 7%
