XRP ETF Market in Canada Expands Rapidly as 3iQ Gains Edge

3iQ has announced that its XRPQ ETF attracted CAD 32 million ($23.21 million) in investor capital just three days after its June 18 debut on the Toronto Stock Exchange (TSX). This rapid growth makes XRPQ the largest XRP-focused ETF in Canada. The firm confirmed the development in an official press release and through a post on its X handle.

XRPQ launched on the same day as another XRP ETF, XRPP, managed by Purpose Investments. Despite both products entering the market simultaneously, XRPQ outpaced XRPP in attracting investor funds. As of now, XRPP holds an AUM of CAD 14.7 million ($10.7 million).

We are pleased to announce that after just three days of trading on the Toronto Stock Exchange (TSX), the 3iQ XRP ETF (Ticker: $XRPQ) has accumulated C$32 million in assets under management, making it the largest exchange-traded fund focused on #XRP in Canada.

XRPQ is one of the… pic.twitter.com/o6wX7jREqZ
— 3iQ Digital Asset Management (@3iq_corp) June 23, 2025

Zero-Fee Competition Fuels Investor Interest

Both ETFs offered a 0% management fee to draw interest. XRPQ’s fee waiver will last for six months, expiring at the end of 2025. Meanwhile, Purpose’s XRPP will maintain the 0% fee until February 2026. Even with this longer fee-free period, XRPP still trails 3iQ’s XRPQ in total investment.

As of June 20, XRPQ shares traded at CAD 13.36 (approximately $9.71), while XRPP shares stood at CAD 9.66 ($7.02). The higher trading value of XRPQ reflects stronger demand and investor confidence in 3iQ’s offering.

Ripple has taken note of 3iQ’s success and has reportedly invested an undisclosed sum in XRPQ. 3iQ’s reputation in Canada’s crypto investment space played a role in this backing. The firm also manages ETFs tied to Bitcoin and Solana.

Secure Exposure to XRP Through Traditional Accounts

With XRPQ, investors gain indirect exposure to XRP without needing to buy the token directly from crypto exchanges. Canadian residents can purchase XRPQ through their registered brokerage accounts, while international clients can access the ETF on TSX, depending on local regulations. 3iQ secures the XRP holdings behind the fund in cold storage, sourcing the assets from trusted OTC desks and trading platforms.

Earlier this year, 3iQ saw similar success with its Solana Staking ETF, which raised CAD 90 million ($65.44 million) within two days. The momentum behind these crypto ETFs has sparked optimism about spot XRP ETFs launching in the U.S. So far, over ten XRP ETF applications await SEC approval. Market observers expect decisions by Q4 2025.

Lanre Durojaiye

Mr. Durojaiye Olusola is a finance graduate and cryptocurrency writer with over a year of experience providing market insights and clear, well-researched analysis. Dedicated to helping readers understand blockchain trends and digital asset developments.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.