Canada’s growing appetite for regulated cryptocurrency investment products has hit a new milestone, as 3iQ Corp’s XRP exchange-traded fund (ETF) reached over $50 million in assets under management within just 23 days of its launch.
This rapid growth not only underscores increasing interest in XRP but also marks the fund as the largest XRP-focused ETF in Canada to date.
The ETF, listed on the Toronto Stock Exchange (TSX) under the tickers XRPQ (CAD) and XRPQ.U (USD), has drawn attention across both retail and institutional investor communities, according to data shared by crypto analyst Pumpius on the social media platform X (formerly Twitter).
Rapid Growth Points to Rising Institutional and Retail Demand
Launched on June 18, 2025, 3iQ’s XRP ETF was introduced with a strategic advantage: zero management fees for the first six months. This cost-saving feature appears to have contributed to a surge of early interest, positioning the ETF as one of the fastest-growing digital asset funds in Canada’s history.
The product offers direct exposure to XRP, the digital currency developed by Ripple Labs, which ranks among the top three cryptocurrencies by market cap, excluding stablecoins.
What sets XRPQ apart from previous offerings is its regulatory clarity, availability through retirement investment accounts like TFSAs and RRSPs, and transparent structure aimed at both institutional and retail investors.
Ripple’s Involvement and Secure Custody Enhance Credibility
3iQ confirmed that Ripple Labs participated as a seed investor in the fund, lending credibility and reinforcing confidence among investors.
Ripple’s involvement comes as the company continues to expand its influence in institutional financial infrastructure, including remittances and central bank partnerships.
The ETF holds 100 percent of its assets in long-term XRP, sourced from reputable crypto exchanges and over-the-counter platforms. These assets are stored entirely in standalone cold wallets, a security feature aimed at protecting holdings from cyber threats and exchange risks.
Pascal St-Jean, President and CEO of 3iQ, commented on the ETF’s early success, noting that investor appetite for regulated, transparent, and cost-effective crypto investment vehicles is stronger than ever.
“We designed XRPQ to address a growing demand for institutional-grade exposure to XRP while ensuring investor security and cost efficiency,” St-Jean said in a recent statement.
Growing Interest May Signal U.S. Market Shift
The success of 3iQ’s XRP ETF may have broader implications beyond Canadian borders. Analysts suggest that the strong uptake could reignite discussions around XRP-based ETFs in the United States, especially as regulatory clarity continues to improve.
Market watchers have speculated that major players such as BlackRock and Fidelity are closely monitoring these developments.
In the U.S., cryptocurrency ETFs are still largely limited to Bitcoin and Ethereum, with recent spot Bitcoin ETF approvals setting the precedent.
An XRP ETF in the American market, backed by institutional custodians and compliant with SEC guidelines, could unlock billions in additional capital flow, should it be approved.
Canadian Market Becoming a Testing Ground for Digital Asset Funds
Canada continues to lead among Western economies when it comes to the rollout of regulated cryptocurrency investment products. The country was among the first to approve a spot Bitcoin ETF in 2021, and it has since expanded its crypto ETF ecosystem to include Ethereum and now XRP.
With the rapid growth of 3iQ’s XRP ETF, Canada once again demonstrates its role as a testbed for regulated crypto finance, offering global firms a framework for launching transparent, compliant investment vehicles in emerging digital markets.
Conclusion
The explosive growth of 3iQ’s XRPQ ETF to over $50 million in under a month marks a pivotal moment in Canada’s digital asset landscape. Its listing on the TSX, Ripple’s early support, and broad investor accessibility position it as a blueprint for future cryptocurrency investment products.
As institutional confidence continues to build and the regulatory environment matures, the success of XRPQ may well signal the next stage in the integration of blockchain assets into the traditional financial system.
