Crypto Asset Manager 3iq has introduced an XRP
Exchange-Traded Fund (ETF) at Toronto Stock Exchange, the company said Wednesday.
3IQ XRP ETF (TSX: XRPQ) is launched with a 0% administration fee for the first six months and is available for investments through registered accounts in Canada, and its TSX list enables access for qualified investors globally, subject to local rules, according to a press release.
Earlier this week, the Asset Manager’s objectives announced that it would also start Wednesday with a place with a place XRP ETF on the Toronto Stock Exchange during the XRPP ticker.
3iq was one of the first fund managers who indicated a bitcoin
Fund with its Bitcoin fund on TSX and the first with a listed Ether Fund, also in Toronto. Ripple, the Creator of the XRP Tokenet, is an early investor in the 3IQ’s XRPQ vehicle (the invested amount was not revealed).
“XRP has shown a significant growth potential in the last decade, and this groundbreaking strategy offers Canadian and qualified global investors a transparent, cheap and tax effective way to access this opportunity safely,” said Pascal St-Jean, president and CEO of 3IQ.
“Ripple Labs’ investment support reflects our joint management in promoting the digital asset space,” he said.
The 3iq team rings the final bell this afternoon on the TSX floor to commemorate the ETF launch, says the company.
Read more: SPOT XRP ETF Set to start shopping in Canada this week after regulatory nodded, token up 7%
