XRP ETF Hits $50M Faster Than Expected
Canada’s newest XRP-focused ETF has already topped $50 million in assets—less than a month after launching. That’s quicker than most analysts predicted, and it’s probably not a coincidence that the fund comes with zero fees, at least for now.
The ETF, managed by digital asset firm 3IQ, trades under XRPQ and XRPQ.U on the Toronto Stock Exchange. It went live on June 18, and by mid-July, it had crossed the $50 million mark. Not bad for a product that’s still in its infancy.
Why the Rush?
A few things seem to be driving interest. First, the fee structure—or lack of one. The fund is waiving management fees for the first six months, which makes it an unusually cheap way to get exposure to XRP. Most crypto ETFs charge something, even if it’s small.
Then there’s the regulatory angle. Unlike some crypto products that operate in gray areas, this one has full approval in Canada, which might ease nerves for cautious investors. The fact that Ripple Labs—a major player in the XRP ecosystem—put seed money into the ETF doesn’t hurt either.
All the XRP in the fund comes from regulated exchanges and over-the-counter desks, which 3IQ says adds another layer of safety. Assets are stored offline in cold storage, a detail that matters more to institutional investors than retail traders, but still.
Who’s Buying In?
According to 3IQ’s CEO Pascal St-Jean, it’s not just crypto enthusiasts jumping in. Institutional money is showing up too, which suggests XRP is slowly shedding its reputation as a retail-only asset.
“Investors are getting pickier,” St-Jean said. “They want the flexibility of an ETF, but without the high fees that used to come with these products.”
That might explain why earlier crypto ETFs struggled to gain traction—many charged premiums that turned people off. This one, at least for now, doesn’t.
The fund is open to Canadian registered accounts (think retirement or tax-advantaged plans) and international investors, assuming local rules allow it. That accessibility probably helped it hit $50 million so fast.
What’s Next?
If this keeps up, we might see more XRP ETFs—or at least more zero-fee promotions—popping up elsewhere. Canada’s been ahead of the U.S. on crypto ETFs for a while, and this could push other regulators to move faster.
Then again, crypto’s a volatile space. A month of success doesn’t guarantee long-term stability. But for now, 3IQ’s bet seems to be paying off.
