3iQ’s new XRP ETF, backed by Ripple, begins trading on the Toronto Stock Exchange with zero management fees for the first six months.
Canadian asset manager 3iQ has launched a new XRP-focused ETF for North American users. The 3iQ XRP ETF (XRPQ) began trading today on the Toronto Stock Exchange (TSX), offering investors direct exposure to the fourth-largest digital asset by market cap.
Ripple, the blockchain company behind the XRP Ledger and the XRP (XRP) cryptocurrency, is an early investor in the fund, 3iQ said in a Wednesday announcement. To mark the occasion, the 3iQ team will ring the TSX’s closing bell this afternoon.
The ETF debuts with a six-month 0% management fee. It invests exclusively in long-term XRP positions acquired from reputable exchanges and OTC platforms, with all holdings kept in cold storage, per the announcement.
