Big Move For XRP: Ripple-Backed ETF Launches In Canada
Toronto Stock Exchange introduced a new spot-based XRP ETF, XRPQ, by 3iQ Corp., featuring a 0% management fee for the first six months. This ETF allows retail and institutional investors to own XRP without managing private wallets or using unregulated platforms. XRPQ will store XRP in cold storage, ensuring security and reducing hacking risks, and will purchase XRP from regulated sources. Ripple has invested in the fund, signaling confidence in its structure amid ongoing legal uncertainties regarding XRP in the US. On the same day, Purpose Investments launched its own XRP ETF, XRPP, making two spot XRP ETFs available on the exchange. Over 10 applications for spot XRP ETFs are pending with the US SEC, with potential approval expected by October 2025. The launch of XRPQ reflects a growing acceptance of digital assets in traditional markets.
