Spot Ripple (XRP) ETFs Are Going Live in North America Today: Details

While the US Securities and Exchange Commission continues to delay making a decision on some of the numerous spot XRP ETF filings, its Canadian counterpart has already approved a couple.

One of them is launched by 3iQ, while the other comes from Purpose Investments.

3iQ Corp’s XRPQ

The press release from 3iQ Corp informs that the financial vehicle, going with the XRPQ ticker, will be available for trading on the Toronto Stock Exchange from today, June 18. Moreover, it will debut with a 0% management fee for the first six months.

The announcement reads that XRPQ will invest only in “long-term holdings for XRP purchased from reputable digital asset trading platforms and over-the-counter (OTC) counterparties,” while the underlying asset will be secured in standalone cold storage.

“The launch of XRPQ marks another milestone in our mission to provide investors with convenient, cost-effective access to digital assets within a regulated framework,” said Pascal St-Jean, President and CEO of 3iQ.

The company’s exec added that the fourth-largest cryptocurrency by market cap has demonstrated “significant growth potential over the past decade, and this groundbreaking strategy offers Canadian and qualified global investors a transparent, low-cost, and tax-efficient way to securely access that opportunity.”

Purpose Investments’ XRPP

In a separate announcement, the asset investment company with over $24 billion in AUM, Purpose Investments, said it has expanded its spot crypto ETF portfolio by launching the Purpose XRP ETF. It will also trade on the TSX, and its ticker is XRPP.

Paul Pincente, VP of Digital Assets at the company, said the new financial vehicle is a “streamlined, advisory-ready solution that transforms XRP’s real-world utility into a secure, investable format.”

“Canadian investors continue to look for simple, safe, and transparent ways to access the digital asset market, and the XRP ETF has been one of the most requested digital assets in our lineup, thanks to XRP’s design for fast, low-cost global payments,” said Vlad Tasevski, Chief Innovation Officer.

While Canada will have a couple of spot XRP ETFs, its southern neighbor continues to delay making a decision on many of the numerous SEC filings. Just yesterday, the nation’s securities watchdog postponed its decision on Franklin Templeton’s XRP ETF application. However, it also invited public comments on CBOE’s proposal.