XRP ETF From 3iQ Becomes Canada’s Largest Fund

XRP ETF offerings have entered a new era in Canada, with 3iQ Corp.’s XRPQ ETF rising to the top just days after launching on the Toronto Stock Exchange (TSX). The Canadian asset management leader revealed that its XRP-focused exchange-traded fund amassed over CAD 32 million (approximately $23.21 million) in assets under management (AUM) within three days of its debut.

In a recent press release, 3iQ confirmed that XRPQ now stands as Canada’s largest XRP-based ETF. Launched on June 18, the fund quickly attracted strong investor interest and has clearly outpaced similar market entries.

The feat was further shared on 3iQ’s official X account, underlining the impressive investor sentiment around the product.

3iQ’s XRPQ Surges Ahead of Rival Purpose’s ETF

The day XRPQ began trading, another similar fund also made its debut — the XRPP ETF by Canadian asset management firm Purpose Investments. Despite the similarity in launch timing, 3iQ’s XRPQ significantly outperformed Purpose’s offering.

As of the latest data, Purpose’s XRPP holds around CAD 14.7 million ($10.7 million) in AUM. Both ETFs rolled out with an appealing 0% management fee strategy to lure investors. For XRPQ, this zero-fee benefit will last for six months, expiring by the end of 2025. In contrast, Purpose’s management fee waiver extends until February 2026.

Despite the longer incentive from Purpose, 3iQ’s XRPQ drew in more than double the capital. This clearly signals strong market confidence in the brand and its crypto-focused strategies. When markets closed on June 20, each XRPQ unit traded at CAD 13.36 (approximately $9.71), while XRPP shares were priced at CAD 9.66 ($7.02).

Ripple Investment Strengthens 3iQ’s Position

3iQ’s dominance in Canada’s crypto investing space isn’t new. The firm already manages a variety of cryptocurrency ETFs, including those based on Solana and Bitcoin. Its expertise and reputation may have played a pivotal role in XRPQ’s triumphant debut.

The credibility of XRPQ received a boost when Ripple — the company behind XRP — made a strategic, undisclosed investment in the ETF. This shows growing institutional interest in structured financial products connected to XRP and enhances the fund’s appeal among both retail and professional investors.

Importantly, XRPQ makes XRP investments more accessible to the broader market. Investors can gain exposure to the digital asset through standard brokerage accounts, avoiding direct transactions via crypto exchanges. The ETF is available to Canadian clients through local brokerages and to international investors via the TSX, subject to local regulations.

Security and Storage Standards

3iQ ensures that the XRP assets backing the ETF are sourced through reputable over-the-counter desks and leading trading platforms. For protection, the XRP is stored securely in cold wallets, reducing the risk associated with online breach attempts.

Parallel Success with Solana ETF

The success of the XRP ETF isn’t isolated. Earlier this year, 3iQ’s Solana ETF also made waves by becoming the country’s largest fund focused on the Solana network. That product brought in CAD 90 million ($65.44 million) within just two days of its launch, highlighting the firm’s consistency in delivering impactful crypto investment vehicles.

Anticipation Grows for U.S. XRP ETFs

As Canada continues to lead in crypto ETF innovations, investors and analysts eagerly await similar rollouts in the United States. More than ten XRP ETF applications have already been filed with the U.S. Securities and Exchange Commission (SEC), and market speculation points to a possible wave of approvals by the fourth quarter of 2025.

Related: Expert Advice: Sell XRP If You’re Confused

The early success of 3iQ’s XRPQ serves as a powerful case study of the latent demand for XRP-backed financial products and sets a strong precedent for global markets considering similar moves.