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3iQ XRP ETF Becomes Canada’s Largest XRP ETF, Hits $23M AUM ...Middle East
Leading asset manager 3iQ Corp. claims its XRP ETF (XRPQ) has registered an incredible milestone just three days after its debut on the Toronto Stock Exchange. In a press release today, 3iQ reported that the XRPQ ETF pulled in CAD 32 million ($23.21 million) of investor capital, making it the largest ETF tracking XRP in Canada. According to 3iQ, XRPQ achieved the remarkable feat within three days after it commenced trading on the Toronto Stock Exchange (TSX) on June 18. The asset manager also announced the incredible feat on its X handle. twitter.com/3iq_corp/status/1937129197387874339 XRPQ Outperforms Purpose Investments' XRP ETF Recall that XRPQ launched alongside a similar product from leading Canadian-based asset management company Purpose Investments. The Purpose Investments XRP ETF (XRPP) also began trading on TSX on June 18. It currently boasts an AUM of CAD 14.7 million ($10.7 million). Both 3iQ's XRPQ and Purpose's XRPP ETFs launched with 0% management fees. XRPQ investors will enjoy the 0% management fee for the first six months of trading, with the offer expiring by year-end. However, the Purpose 0% management offering will be valid until February 2026. Despite this, XRPQ still attracted more investors' capital, outperforming XRPP to become the largest XRP ETF in Canada. As of June 20, the 3iQ XRP ETF shares traded at CAD 13.36 (approximately $9.71). On the other hand, XRPP changed hands at CAD 9.66 (7.02) per share. 3iQ XRP ETF 3iQ is a leading asset manager in Canada, offering a range of investment products tied to cryptocurrencies, including Solana and Bitcoin. Given its prominence in Canada, 3iQ's XRP ETF attracted Ripple's attention, with the company investing an undisclosed amount in the product. With XRPQ, investors do not need to go through the stress of directly purchasing XRP from crypto exchanges. Instead, they can gain indirect exposure through their existing brokerage accounts. While Canadian residents can invest in the product through their registered brokerage accounts, international clients can do so on TSX, subject to local requirements. The leading asset manager backs the ETF with long-term XRP holdings sourced from reputable trading platforms and OTC desks. 3iQ claims it stores the underlying XRP coins backing XRPQ in cold storage for security purposes. Meanwhile, 3iQ's XRP ETF success follows a similar milestone the company recorded for its Solana ETF earlier this year. According to the announcement, the 3iQ Solana Staking ETF became Canada's largest Solana ETF after it amassed CAD 90 million ($65.44 million) in inflows over two days after its debut. As spot XRP ETFs have recorded tremendous success in Canada, enthusiasts of the token are looking forward to the launch of similar products in the United States. With more than 10 XRP ETF applications filed with the U.S. SEC, speculation suggests that the products might be approved for launch by Q4 2025.
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