Canadian asset manager 3iQ recently announced the launch of an XRP-focused exchange-traded fund (ETF) on the Toronto Stock Exchange (TSX) under the XRPQ ticker. This move comes as XRP continues to gain momentum in the cryptocurrency market.
The XRPQ ETF will offer investors a six-month waiver on management fees and will hold only long-term positions on the digital asset. These assets are sourced from reputable exchanges and over-the-counter (OTC) platforms, with custody secured through cold storage. Ripple, the blockchain firm connected to the token and the XRP Ledger (XRPL), is an early backer of the fund.
Pascal St-Jean, President and CEO of 3iQ, expressed his excitement about the launch, stating, “XRP has demonstrated significant growth potential over the past decade, and this groundbreaking strategy offers Canadian and qualified global investors a transparent, low-cost, and tax-efficient way to securely access that opportunity.”
XRPQ is available to Canadian investors through registered accounts, with eligible global investors also able to participate, subject to regional rules. This launch follows a similar move by Purpose Investments, which recently debuted its own XRP ETF.
The timing of XRPQ’s launch coincides with a significant spike in XRP network activity. Data from Santiment shows that active addresses on the XRP Ledger have surged to 295,000, the highest level seen in 2025. The number of wallets holding over 1 million XRP has also reached a record 2,700, indicating growing interest from large investors and institutions.
This increase in network activity can be attributed to the rising adoption of the XRP Ledger by stablecoin projects, such as Circle’s USD Coin (USDC). Additionally, developments in the legal battle between the US Securities and Exchange Commission (SEC) and Ripple have contributed to the heightened activity.
On June 17, Ripple submitted a supplemental letter to Judge Analisa Torres in its bid for an indicative ruling, seeking to resolve a past court ruling that ordered a $125 million penalty. The company emphasized its commitment to full compliance and its support for a resolution that reduces strain on the appeals process.
Overall, the launch of the XRPQ ETF and the surge in XRP network activity highlight the growing interest in XRP and its potential for future growth in the cryptocurrency market. Investors are increasingly turning to XRP as a viable investment option, and the innovative ETF offerings provide a convenient and secure way to access this opportunity.