Crypto Journalist
Amin Ayan
Crypto Journalist
Amin Ayan
Share
Canada’s largest XRP-focused exchange-traded fund (ETF), managed by 3IQ, has rapidly surpassed $50 million in assets under management just weeks after its June 18 debut.
Key Takeaways:
- 3IQ’s XRP ETF surpassed $50 million in assets within weeks.
- The ETF is among North America’s first publicly traded XRP vehicles.
- Bloomberg analysts now place the odds of an XRP spot ETF approval in the US at 95%
The fund, listed as XRPQ and XRPQ.U on the Toronto Stock Exchange, is attracting investors with its zero management fees during the introductory six-month period, according to a Monday press release by 3IQ.
The ETF provides direct exposure to XRP, with holdings sourced exclusively from regulated trading platforms and over-the-counter counterparties.
One of North America’s First Publicly Traded XRP Investment Vehicles
3IQ’s XRP ETH stands out as one of the first publicly traded vehicles in North America to offer such access to XRP.
As reported, the fund also amassed CAD 23 million ($16.7 million) in assets under management within just 72 hours of its launch.
XRPQ entered the market with momentum, supported by a six-month 0% management fee and direct investment from Ripple itself.
3IQ President and CEO Pascal St-Jean noted the milestone as a sign of growing investor sophistication.
“Retail and institutional investors are becoming increasingly discerning with their allocations, selecting this asset which offers a combination of the flexibility that comes with exchange-traded funds, combined with the 0% management fee at launch that contrasts with the higher premiums which were the hallmark of earlier digital asset ETFs.”
Assets in the XRPQ fund are secured in fully segregated cold storage, ensuring robust security for investors.
The ETF is also available for registered accounts across Canada and accessible to international investors where compliant.
On June 11, VivoPower, a publicly listed firm, announced a partnership with the Flare blockchain to generate yield from its XRP holdings.
The move could indicate that institutional players are looking for ways to leverage their crypto assets without liquidating them.
In May, VivoPower also invested $121 million in XRP as a strategic reserve, making it the first company in the world with an XRP-focused treasury.
XRP ETF Approval Odds Jump to 95%
As reported, Bloomberg analysts now place the odds of an XRP spot ETF approval at 95%, fueling renewed speculation around institutional capital inflows and a potential shift in crypto market dynamics.
The SEC has already acknowledged XRP’s 19b-4 filings, with a final decision expected by October 17, 2025.
Last week, US-based spot Bitcoin ETFs recorded over $1 billion in inflows for two straight days.
On Friday, 11 spot Bitcoin ETF products reported combined inflows totaling $1.03 billion, following $1.17 billion the previous day.
Recently, BlackRock reported earning more revenue from IBIT than from its flagship iShares Core S&P 500 ETF.
