The fund, which began trading on June 18 on the Toronto Stock Exchange (TSX), has outpaced competitors to become the largest XRP-focused ETF in the country.
3iQ’s newly launched XRP ETF (XRPQ) amassed CAD 23 million ($16.7 million) in assets under management within just 72 hours, signaling rising institutional interest in the cryptocurrency.
Key Takeaways:
3iQ’s XRP ETF (XRPQ) reached $16.7 million AUM within 72 hours, outperforming competing products.
Backed by Ripple and secured with cold wallet custody, the fund attracted strong early institutional interest.
XRPQ’s rapid success highlights growing demand for altcoin ETFs.
The fund, which began trading on June 18 on the Toronto Stock Exchange (TSX), has quickly outpaced competitors to become the largest XRP-focused ETF in the country, the firm said in a recent announcement.
XRPQ entered the market with momentum, supported by a six-month 0% management fee and direct investment from Ripple itself.
3iQ’s XRP ETF Secures Holdings in Cold Wallets From Trusted Sources
3iQ’s ETF holds long-term XRP positions sourced from vetted exchanges and OTC providers, with assets stored in cold wallets to bolster security.
The fund’s early performance has exceeded that of Purpose Investments’ XRPP, which launched on the same day but has attracted only CAD 10.7 million ($7.8 million) in AUM so far.
While both funds offer the same fee waiver, XRPQ has pulled in more capital and outperformed on the price front.
By June 20, XRPQ closed at CAD 13.36 ($9.71), significantly higher than XRPP’s CAD 9.66 ($7.02), highlighting stronger initial demand.
3iQ’s reputation in the Canadian market likely contributed to the fast inflow. The firm already manages a number of digital asset products, including Bitcoin and Solana-based funds.
Earlier this year, its Solana Staking ETF raised CAD 90 million ($65 million) in just two days, a pattern of early investor enthusiasm that XRPQ appears to be repeating.
The fund offers exposure to XRP without requiring direct token purchases, making it a practical entry point for traditional investors.
Canadian residents can access it through standard brokerage accounts, while international investors may also participate depending on jurisdictional rules.
With Ripple’s strategic involvement and strong early uptake, XRPQ may set a precedent for altcoin ETFs beyond Bitcoin and Ethereum.
Attention now turns to the US, where more than 10 XRP ETF applications are pending before the SEC.
Decisions are expected later in 2025, with approval potentially opening the door to broader global access and institutional participation in XRP markets.
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.
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.
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