18.06.2025 15:02

Spot XRP exchange-traded funds (ETFs) are now available in North America, marking a significant development in the cryptocurrency investment landscape. While the United States Securities and Exchange Commission (SEC) remains deliberative on various spot XRP ETF applications, Canada has swiftly approved two such funds.

These pioneering ETFs, one from 3iQ Corp and the other from Purpose Investments, offer Canadian investors, and qualified global investors, convenient access to XRP. 3iQ Corp's XRPQ ETF, trading under the ticker XRPQ on the Toronto Stock Exchange (TSX), boasts a 0% management fee for its initial six months. The fund's strategy centers on long-term XRP holdings, acquired through established digital asset exchanges and over-the-counter (OTC) markets, securely stored in cold storage for enhanced safety. Pascal St-Jean, President and CEO of 3iQ, highlighted the ETF as a significant step towards providing regulated access to digital assets, emphasizing XRP's growth potential and the ETF's transparent, low-cost, and tax-efficient structure.

Purpose Investments, a firm managing over $24 billion in assets under management, has concurrently launched its own Purpose XRP ETF (XRPP), also listed on the TSX. This ETF, according to Paul Pincente, VP of Digital Assets at Purpose Investments, presents a streamlined, easily integrated solution for investors seeking exposure to XRP. Their announcement underscores the growing demand from Canadian investors for straightforward, secure, and transparent avenues to participate in the digital asset market. The addition of XRP to the already existing ETF portfolio underscores Purpose Investment’s commitment to providing diverse investment opportunities within the cryptocurrency space. Both launches represent a noteworthy step towards greater accessibility and regulated investment in the rapidly evolving cryptocurrency market.