What to know:
Well, darling, crypto asset manager 3iQ has taken the plunge and graced the Toronto Stock Exchange with an XRP exchange-traded fund. Truly a treat for your investment taste buds!
The 3iQ XRP ETF (TSX: XRPQ) rolls out the red carpet at a charming 0% management fee for its inaugural six months. It’s like getting a free appetizer at the fanciest restaurant in town, only with investments. Perfect for registered accounts in Canada, and, if you play nice with local regulations, it opens doors for qualified investors from all over the globe.
And just like that, earlier this week, asset manager Purpose Investments decided to join the soirée, announcing the debut of their very own spot XRP ETF on the Toronto Stock Exchange under the rather chic XRPP ticker. Talk about a stampede! 🐎
3iQ, the trendsetting fund manager, was one of the first to showcase a bitcoin fund on the TSX, and they rubbed elbows with ether too; remember their publicly listed ether fund? Sweet nostalgia! And, mind you, Ripple, the genius behind the XRP token, is cutting a dash as an early investor in this little XRPQ escapade, though they’ve chosen to keep the amount under wraps. How mysterious! 😏
“XRP has blossomed like finely aged cheese over the last decade. This revolutionary strategy is like an exquisite wine pairing, offering Canadian and sophisticated global investors a glossy, cost-effective and tax-efficient way to indulge in that opportunity,” said Pascal St-Jean, the big cheese (president and CEO) of 3iQ.
“Oh, and don’t forget Ripple Labs’ financial backing—it’s absolutely delightful and shows our mutual commitment in leading the digital asset revolution,” he added, as if we didn’t know already!
Just for the grand finale, the 3iQ ensemble will be ringing the closing bell this afternoon on the TSX floor to celebrate this ETF launch. A touch of drama, darling! Brava! 🎉
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2025-06-18 16:07