Canadian 3iQ launch the first-ever spot XRP ETF

Canada’s and the world’s first spot XRP ETF was launched by 3iQ and is live on the Toronto Stock Exchange (TSX) under tickers TSX: XRPQ and XRPQ.U, offering regulated XRP access to investors. Pascal St-Jean, President and CEO of 3iQ, said the launch of XRPQ marked another milestone in his company’s mission to provide investors with convenient, cost-effective access to digital assets within a regulated framework.  

According to 3iQ’s press statement, XRPQ debuted with a 0% management fee for the first six months, and it will invest only in long-term holdings of XRP purchased from reputable digital asset trading platforms and over-the-counter (OTC) counterparties. XRPQ is available for investment through registered accounts in Canada. Its TSX listing will enable global investors access, subject to local regulations. The XRP will be stashed in a fully secured, standalone cold storage.

St-Jean says XRPQ offers low-cost and tax efficiency to the world

3iQ’s St-Jean said XRP had demonstrated significant growth potential over the past decade, and the 3iQ spot XRP ETF offered Canadian and qualified global investors a transparent, low-cost, and tax-efficient way to access that opportunity. He added that Ripple Labs’ investment support reflected the company’s shared drive to advance the crypto space.

According to the 3iQ team, the XRPL consistently settles transactions in three to five seconds, with fees often less than a fraction of a cent. Ongoing regulatory clarity and growing institutional interest also positioned the XRPL to solve real-world use cases like global remittances, liquidity management, and blockchain applications.

3iQ launched the 3iQ Solana Staking ETF (TSX: SOLQ) earlier this year, and it invests in long-term Solana (SOL) holdings while delivering staking rewards. SOLQ became the largest Solana ETF following its launch, and as of June 12, 2025, it had over $120 million in assets under management (AUM). 

Purpose XRP ETF receives OSC receipt

Purpose Investments Inc. announced receipt of the final prospectus for the Purpose XRP ETF. The ETF is expected to begin trading on the Toronto Stock Exchange under the ticker XRPP on Wednesday, June 18.

Vlad Tasevski, the Chief Innovation Officer at Purpose Investments, said the OSC’s granting of a receipt for the Purpose XRP ETF prospectus reinforced Canada’s global leadership in championing crypto regulation. Purpose Investments launched the world’s first spot Bitcoin ETF in Canada in 2021, years before they were approved in the U.S.

The ETF will be available in CAD-hedged (ticker XRPP), CAD non-hedged (ticker XRPP.B), and US dollar (ticker XRPP.U) units and will be eligible for holding in registered accounts such as TFSAs and RRSPs. Purpose Investments filed to launch the first spot XRP ETF in Canada in January this year.

Som Seif, founder and CEO of Purpose Investments, pointed to growing institutional interest in XRP as a rationale for the ETF. He claimed that as XRP continued to see increasing adoption and institutional interest, an ETF could offer investors a transparent and familiar way to access XRP within a regulated framework. 

“This launch represents another important step in our efforts to be the leading and most trusted partner for investors in harnessing the benefits of crypto and digital assets by enabling them to understand, access, and confidently invest in these assets.” 

–Vlad Tasevski, Chief Innovation Officer

Tasevski also said XRP’s real-world utility and global relevance continued to drive interest, and Purpose wanted to make it easier for Canadian investors to access XRP via an ETF.

He added that by fully waiving the management fee until early 2026, the company was reinforcing its commitment to simple and effective access to crypto solutions that helped investors cut through red tape. All units of the ETF – CAD-hedged (TSX: XRPP), CAD non-hedged (TSX: XRPP.B), and USD (TSX: XRPP.U) were included in the fee waiver.

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