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Big News for XRP: Ripple-Backed ETF Launches in Canada
In a significant development for cryptocurrency enthusiasts and investors, the Toronto Stock Exchange welcomed a new player today, aimed at enhancing access to XRP. The 3iQ Corp introduced its spot-based XRP ETF, which trades under the ticker XRPQ. This launch is particularly notable as it features an introductory 0% management fee for the first six months.
Enhanced Security and Accessibility
The XRPQ ETF offers a hands-off investment solution for both retail and institutional clients, eliminating the need for private wallets and steering clear of unregulated platforms. To ensure maximum security, the ETF will maintain XRP holdings in cold storage, with assets distinctly segregated to minimize hacking risks. The fund’s strategy includes purchasing XRP from regulated over-the-counter sources, a common practice among reputable digital asset funds.
Strategic Backing from Ripple
Adding to the ETF’s credibility, Ripple, based in San Francisco, has invested in XRPQ. Although the exact investment figure remains undisclosed, Ripple’s involvement reaffirms its confidence in the ETF’s structure and security amidst the ongoing regulatory uncertainties surrounding XRP in the United States.
Impressive Growth Trajectory
The value of XRP has seen a meteoric rise of approximately 10,700% since 2015, surging from $0.02 to $2.16. This remarkable growth trajectory underscores the potential that 3iQ’s CEO, Pascal St-Jean, sees in the ETF, describing it as a straightforward avenue for Canadians and international investors to leverage XRP’s performance.
Competition Heats Up
The same day also saw the launch of another XRP ETF by Purpose Investments, trading as XRPP. This introduces healthy competition within the market, providing investors with multiple regulated pathways to invest in XRP.
Anticipation for U.S. Approval
Looking ahead, there are over 10 applications for a spot XRP ETF currently pending before the U.S. Securities and Exchange Commission. Optimism is high, with industry experts anticipating approval by October 2025. Meanwhile, Canadian markets continue to pioneer in the crypto-ETF arena, setting a benchmark for others to follow.
A Catalyst for Broader Acceptance
With its strategic launch and Ripple’s backing, the XRPQ ETF is set to attract significant interest, offering a simplified and secure investment method in XRP. This initiative not only reflects the growing integration of cryptocurrencies into mainstream finance but also highlights a broader acceptance and trust in digital assets.
For those looking to delve deeper into cryptocurrency investments, more information is available on Binance. Additionally, for related topics and the latest trends in the ETF market, visit Crypto News on Financier.
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