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XRP ETF
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XRP ETF
The XRP ETF is an exchange-traded fund listed on the Toronto Stock Exchange (TSX) that provides investors with exposure to the digital asset XRP. It seeks to reflect the daily price movements of XRP in U.S. dollars and offer the potential for long-term capital appreciation. [1] [2]
Overview
The 3iQ XRP ETF (XRPQ, XRPQ.U) was launched by Canadian investment fund manager 3iQ Corp. on June 18, 2025, becoming one of the first exchange-traded funds in North America to offer direct investment exposure to XRP. The fund is listed on the Toronto Stock Exchange, providing access to Canadian investors through registered accounts and potentially to qualified global investors, subject to local regulations. [2] [3]
The introduction of the 3iQ XRP ETF follows the launch of other digital asset investment products by 3iQ, including some of the first publicly listed Bitcoin and Ether funds in Canada. The fund's structure involves holding long-term positions in XRP acquired from established digital asset trading platforms and over-the-counter (OTC) counterparties, with the underlying assets held in cold storage for security. [2] [3]
The launch coincides with increased interest in XRP and its underlying technology, the XRP Ledger, which is designed for high-speed, low-cost cross-border payments. Ripple, the company associated with the XRP Ledger and the XRP token, is noted as an early investor in the 3iQ XRP ETF. [2] [4]
Investment Objectives
The stated investment objectives of the 3iQ XRP ETF are:
- To provide unitholders with exposure to the digital asset XRP and the daily price movements of the U.S. dollar price of XRP. [1]
- To offer the opportunity for long-term capital appreciation. [1]
Listing Information
The 3iQ XRP ETF is listed on the Toronto Stock Exchange (TSX) [1] [5]. It trades under two ticker symbols:
The fund commenced trading on June 18, 2025 [2].
Fund Structure and Holdings
The ETF is structured to provide 100% exposure to XRP, although this may be slightly lower due to a small cash balance held within the portfolio. The fund invests only in long-term holdings of XRP [1][2].
XRP holdings are acquired from reputable digital asset trading platforms and over-the-counter (OTC) counterparties. The underlying assets are held in cold storage for security [1] [2].
The fund's benchmark index is the CME CF XRP-Dollar Reference Rate - New York Variant [1].
Fees and Expenses
The 3iQ XRP ETF features a 0% management fee for the first six months following its launch [1] [2]. After this initial period, the management fee is 0.59%. The Management Expense Ratio (MER) is an aggregate of the management fee, operating expenses, and other costs incurred by the fund [1].
Eligibility
The 3iQ XRP ETF is eligible for investment through various registered accounts in Canada, including:
- Registered Retirement Savings Plan (RRSP) [1]
- Registered Retirement Income Fund (RRIF) [1]
- Registered Disability Savings Plan (RDSP) [1]
- Deferred Profit Sharing Plan (DPSP) [1]
- Registered Education Savings Plan (RESP) [1]
- Tax-Free Savings Account (TFSA) [1] [2]
Qualified global investors may also access the ETF, subject to local regulations [2].
Service Providers
Several entities are involved in the operation and management of the 3iQ XRP ETF:
- Custody Services: Tetra Trust Company [1]
- Sub-Custodian: Coinbase Custody Trust Company, LLC [1]
- Administrator: CIBC Mellon Trust Company [1]
- Transfer Agent: TSX Trust Company [1]
- Auditor: PricewaterhouseCoopers LLP [1]
- Legal Counsel: Mintz LLP [1]
Relationship with Ripple
Ripple, the company associated with the XRP Ledger and the XRP token, is an early investor in the 3iQ XRP ETF [6] [5].
Pascal St-Jean, President and CEO of 3iQ, commented on this relationship, stating;
“The launch of XRPQ marks another milestone in our mission to provide investors with convenient, cost-effective access to digital assets within a regulated framework,” [6] [5]
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