3iQ launches XRP ETF on Toronto Stock Exchange with Ripple as investor
3iQ’s new XRP ETF, backed by Ripple, begins trading on the Toronto Stock Exchange with zero management fees for the first six months.
Canadian asset manager 3iQ launched a new XRP-focused ETF for North American users. The 3iQ XRP ETF (XRPQ) began trading today on the Toronto Stock Exchange (TSX), offering investors direct exposure to the fourth-largest digital asset by market cap.
Ripple, the blockchain company behind the XRP Ledger and the XRP (XRP) cryptocurrency, is an early investor in the fund, 3iQ said in a Wednesday announcement. To mark the occasion, the 3iQ team will ring the TSX’s closing bell this afternoon.
The ETF debuts with a six-month 0% management fee. It invests exclusively in long-term XRP positions acquired from reputable exchanges and OTC platforms, with all holdings kept in cold storage, per the announcement.
