- 3iQ XRP ETF (XRPQ) hits $23M AUM in under 72 hours post-TSX debut
- Ripple’s investment adds major credibility to the 3iQ XRP ETF
- 3iQ’s ETF trades above Purpose’s XRPP in early performance
Canada’s crypto ETF market expanded rapidly as 3iQ’s XRP ETF hit $23 million in assets under management in three days. The Ripple-backed fund started trading on the Toronto Stock Exchange (TSX) under the ticker XRPQ. It has surpassed rivals to become the largest XRP-focused exchange-traded product in Canada.
The XRPQ ETF started trading on June 18 as part of a new trend of institutional investment products in altcoins. In addition, 3iQ offered a 0% management fee for the first six months. This offer assisted to attract investor capital within a short period and increased early performance measures.
Ripple also invested directly in the ETF, which made the product more credible and drew more interest from retail and institutional investors. The fund holds long-term XRP assets that are purchased from reputable exchanges and OTC platforms. It also keeps the base tokens in cold wallets for added security to investors.
3iQ’s ETF trades above Purpose’s XRPP
The ETF has performed better than Purpose Investments competitor product, XRPP, which also launched the same day, but has only amassed an AUM of $10.7 million. Both ETFs have 0% in management fees, but the incentive period of Purpose lasts until February 2026. However, XRPQ has drawn more investor funds and interest within a shorter period.
On June 20, the price of XRPQ closed at CAD 13.36 ($9.71) above XRPP CAD 9.66 ($7.02). This price and inflow difference indicates a greater initial demand of 3iQ offering. The ETF also benefits from the current reputation of 3iQ in the Canadian digital asset market.
3iQ manages a number of crypto-related funds, such as those linked to Bitcoin and Solana. Earlier this year, the firm’s Solana Staking ETF attracted CAD 90 million ($65 million) in just two days. The success of XRPQ now follows a similar pattern of high early demand for its new digital asset products.
3iQ’s XRP ETF Offers Access to XRP
The ETF provides access to XRP without the need to buy tokens directly on exchanges, which is convenient to traditional investors. Canadian residents can access it from brokerage accounts, while international investors can trade on the TSX in case the regulations allow. The availability enhances its attractiveness to various investor groups.
Ripple’s investment has set the ETF for a wider acceptance in the industry, particularly amid the increased institutional demand of compliant crypto instruments. The fund structure, custody criteria, and fee incentives are part of the early growth of the fund. The solid start shows that the market is confident in XRP as well as the 3iQ brand.
U.S SEC Reviews 10 XRP ETFs Amid Market Expectations
Meanwhile, market observers have shifted their focus to the United States where more than 10 XRP ETF applications await approval. Analysts expect the U.S. Securities and Exchange Commission to decide on these applications in late 2025. A positive outcome would enhance the global use of XRP and exposure through ETFs.
Related Read| WisdomTree’s XRP Spot ETF Review: SEC Invites Feedback on the Proposal