Second XRP ETF launches on Canadian stock exchange today
On Monday, Purpose Investment’s spot XRP ETF announced it would launch in Canada, and joining it is a second spot XRP ETF, the 3iQ XRP ETF, which started trading on the Toronto Stock Exchange this morning.
Ripple is an early investor in the fund from 3iQ Corp., which has a 0% management fee for the first six months, “placing it among the most competitively priced digital asset ETFs,” according to a press release.
XRP, Ripple’s native crypto, is the fourth-largest crypto, with a $125 billion market cap. The asset is down almost 8% in the past week.
There are a slew of spot XRP ETF filings in the US, including from Grayscale, Bitwise, Canary, 21Shares, and WisdomTree, but they are still pending SEC approval.
The closest the US has come to an XRP ETF is the Teucrium Investment Advisors’ leveraged ETF linked to XRP, which launched in April.
Earlier this month, Bloomberg analysts put the odds of approval for XRP ETFs at 85%, which is lower than those for Solana ETFs, at a 90% chance of approval.
