3iQ, a Canadian asset manager, has introduced an XRP-focused exchange-traded fund (ETF) on the Toronto Stock Exchange (TSX) with the XRPQ ticker.
As per a statement released on June 18, XRPQ will provide investors with a six-month waiver on management fees and will only hold long-term positions in the digital asset. The assets are sourced from reputable exchanges and over-the-counter (OTC) platforms, with custody secured through cold storage.
3iQ mentioned that Ripple, the blockchain firm associated with the token and the XRP Ledger (XRPL), is an early supporter of the fund.
Pascal St-Jean, President and CEO of 3iQ, stated:
“XRP has shown significant growth potential over the past decade, and this innovative strategy offers Canadian and qualified global investors a transparent, low-cost, and tax-efficient way to securely access that opportunity.”
XRPQ is accessible to Canadian investors through registered accounts, with eligible global investors also allowed to participate, subject to regional regulations.
This launch follows a similar move by Purpose Investments, which recently introduced its own XRP ETF.
XRP Ledger activity spikes
The timing of XRPQ’s launch coincides with a notable increase in XRP network activity.
Data from Santiment reveals that active addresses on the XRP Ledger have surged from a three-month average of 40,000 to 295,000, the highest level recorded in 2025.
The firm also noted that the number of wallets holding over 1 million XRP has reached a record 2,700, with each holding a minimum of $2.25 million in XRP, indicating growing interest from large investors and institutions.
This increased network activity can be attributed to the blockchain network’s growing adoption by various stablecoin projects, including Circle’s USD Coin (USDC).
Furthermore, the growth can also be linked to developments in the ongoing legal dispute between the US Securities and Exchange Commission (SEC) and Ripple.
On June 17, Ripple submitted a supplemental letter to Judge Analisa Torres in its pursuit of an indicative ruling.
In the letter, Ripple sought to address a previous court ruling that imposed a $125 million penalty.
The company clarified that this action is not a challenge to the court’s findings but aims to efficiently conclude proceedings while adhering to securities laws. It reiterated its commitment to full compliance and support for a resolution that eases pressure on the appeals process.
Mentioned in this article
