This Canadian XRP fund raised $23 million just three days after its launch!

A strong start, the level of excitement exceeded expectations!
A Canadian asset management company called 3iQ just launched a fund specifically investing in XRP last week. And guess what? In just three days, this fund attracted $23 million! Currently, this new fund is already the 'largest' of its kind in Canada for XRP funds. Ripple is also one of the investors in this fund.

Big D's view

  1. This speed is indeed impressive! $23 million in three days for a new fund, especially against the backdrop of a bear market, this starting performance can definitely be considered excellent. It shows that there is still a significant interest from 'big funds' in XRP in the market, especially with Ripple backing it, which has boosted some investors' confidence.

  2. Canada is quite 'daring'. The U.S. is still very strict on this type of cryptocurrency spot funds, especially those beyond Bitcoin and Ethereum, but Canada has continuously approved various funds including Bitcoin, Ethereum, Solana, and now XRP.

  3. Significance outweighs short-term performance: Although this is just a regional product in Canada, it proves that institutional interest in mainstream coins like XRP does exist. This may bring some reference and pressure to regulatory agencies and potential issuers in other regions.

  4. Cautiously optimistic, don't get carried away! While excitement is natural, we must remain calm. This is just the beginning, and the amount of funds is still relatively small. Moreover, the crypto market is inherently volatile, and XRP faces its own challenges. Good fund performance does not equal a guaranteed price surge. Short-term price fluctuations are normal, so don’t act impulsively just because it rose by 3%.

As an observer, this strong start is worth paying attention to for future developments, but I also remind everyone to view it rationally, as market risks still exist, and don't let short-term hype cloud your judgment.

$XRP

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