Crypto asset manager 3iq introduced an XRP
Stock market negotiated funds (ETF) on the Toronto Stock Exchange, the company announced on Wednesday.
The 3IQ XRP ETF (TSX: XRPQ) will be launched with 0% management fees for the first six months and is available for investment via accounts recorded in Canada, and its TSX list allows access to qualified investors worldwide, subject to local regulations, according to a press release.
Earlier this week, Asset Manager Purpose Investments announced that it would also start on Wednesday by negotiating an XRP ETF on the Toronto Stock Exchange under the Ticker XRPP.
3iq was one of the first fund managers to list a bitcoin
Funds, with its Bitcoin fund on the TSX, and the first with an ether fund on the stock market, also in Toronto. Ripple, the creator of the XRP token, is a first investor in the 3iq XRPQ vehicle (the amount invested has not been disclosed).
“XRP has shown significant growth potential in the past decade, and this revolutionary strategy offers Canadian and qualified global investors a transparent, low cost and taxation means to securely access this opportunity,” said Pascal St-Jean, president and chief executive officer of 3iq.
“Ripple Labs investment support reflects our common leadership in the progress of digital asset space,” he said.
The 3iq team will sound the closing bell this afternoon on the TSX floor to commemorate the launch of the ETF, said the company.
Read more: Spot XRP ETF should start to negotiate in Canada this week after a regulatory head sign, in 7% token
