📈 A Canadian ETF focused on the cryptocurrency XRP is seeing explosive growth following its debut. In less than three days after launching on the Toronto Stock Exchange (TSX), the fund already manages over $23 million USD in assets. The ETF is managed by 3iQ Corp, with Ripple among its key backers.
Canada's Largest XRP ETF After Just a Few Days
The newly launched XRPQ ETF has quickly become the largest XRP-focused fund in Canada. Since going live on June 18, it has rapidly gained momentum thanks to strong institutional and retail demand, now managing over 32 million Canadian dollars (approximately $23 million USD).
The fund attracts investors not only by offering exposure to XRP but also through a 0% management fee for the first six months, positioning it among the most competitively priced digital asset ETFs on the market.
A Fund Focused on Long-Term Strategy
3iQ’s XRP ETF is fully dedicated to long-term holding of XRP, with assets acquired through reputable crypto exchanges and trusted OTC partners. The fund is designed not only for short-term speculation but also for building sustained exposure to the altcoin.
In addition to XRPQ, two other XRP-focused ETFs were launched last week by different asset managers, further reflecting the growing investor interest in these types of products.
Leadership Reaction and Market Impact
Pascal St-Jean, President and CEO of 3iQ, commented on the fund’s early success:
“The strong performance of our XRP ETF just days after launch shows we’re delivering value to both retail and institutional investors. Interest in digital assets continues to grow, and we’re proud to offer a reliable gateway.”
The positive momentum has also impacted the price of XRP, which has risen over 3% in the past 24 hours. Trading volume during the same period surpassed $118 billion, signaling increasing market activity.
#Ripple , #xrp , #Altcoin , #etf , #CryptoNewss
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