Just in: 3iQ launches first-ever XRP ETF on Toronto Stock Exchange with Ripple backing

Canadian asset manager 3iQ has made history by listing North America’s first XRP ETF on the Toronto Stock Exchange (TSX). The XRP ETF on Toronto Stock Exchange, trading under the ticker XRPQ, gives investors regulated exposure to XRP—the fourth-largest cryptocurrency by market cap—with Ripple as a key investor.

The launch solidifies Canada’s position as a crypto ETF pioneer, following 3iQ’s earlier Bitcoin and Ether funds.

Ripple-backed fund targets institutional investors

The XRP ETF on Toronto Stock Exchange is uniquely backed by Ripple, the blockchain firm behind XRP’s development. In a strategic move, 3iQ will waive all management fees for the first six months, aiming to attract early adopters.

“This isn’t just another crypto product—it’s a bridge between traditional finance and the next era of digital assets,” said 3iQ CEO Pascal St-Jean during the TSX closing bell ceremony.

All XRP holdings will be stored in cold storage, sourced from top-tier exchanges and OTC desks to ensure security.

Why the XRP ETF on Toronto Stock Exchange matters now

1. Regulatory clarity: Unlike the U.S., Canada has embraced crypto ETFs, with the TSX now hosting funds for Bitcoin, Ether, Solana, and now XRP.

2. Global access: While designed for Canadians, qualified investors worldwide can participate, depending on local regulations.

3. Institutional demand: The launch follows 3iQ’s $120M Solana ETF success, signaling growing appetite for altcoin exposure.

Competition heats up for altcoin ETFs

The XRP ETF on Toronto Stock Exchange isn’t alone. Purpose Investments also debuted a spot XRP ETF this week, while U.S. firms like Franklin Templeton seek SEC approval for similar products.

Analysts suggest this could trigger an “altcoin summer,” with ETFs for XRP and Solana leading the charge. “Investors want diversification beyond Bitcoin,” noted St-Jean.

What’s next for crypto ETFs?

With the XRP ETF on Toronto Stock Exchange live, attention shifts to the U.S. market, where the SEC is reviewing Franklin Templeton’s proposed XRP and Solana ETFs. Approval could flood billions into altcoins.

For now, Canada’s TSX remains the go-to hub for crypto ETF innovation, and 3iQ’s latest move proves XRP is no longer the underdog.