Author: TSX Stocks

Canadian asset manager 3iQ has launched an XRP-focused exchange-traded fund (ETF) on the Toronto Stock Exchange (TSX) under the XRPQ ticker.

According to a June 18 statement, XRPQ will offer investors a six-month waiver on management fees and hold only long-term positions on the digital asset. These assets are sourced from reputable exchanges and over-the-counter (OTC) platforms, and custody is secured through cold storage.

3iQ stated that Ripple, the blockchain firm connected to the token and the XRP Ledger (XRPL), is an early backer of the fund.

Pascal St-Jean, President and CEO of 3iQ, said:

“XRP 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.”

XRPQ is available to Canadian investors through registered accounts. The asset manager added that eligible global investors may also participate, subject to regional rules.

This launch follows a similar move by Purpose Investments, which debuted its own XRP ETF earlier this week.

XRP Ledger activity spikes

The timing of XRPQ’s launch aligns with a notable surge in XRP network activity.

Data from Santiment shows that active addresses on the XRP Ledger have jumped from a three-month average of 40,000 to 295,000, the highest level seen in 2025.

The firm also noted that the number of wallets holding over 1 million XRP has reached a record 2,700. This group now holds a minimum of $2.25 million in XRP each, indicating rising interest from large investors and institutions.

This improved network activity can be linked to the blockchain network’s rising adoption by several stablecoin projects, such as Circle’s USD Coin (USDC).

Moreover, the growth can also be linked to the developments in the long-standing legal battle between the US Securities and Exchange Commission (SEC) and Ripple.

On June 17, the crypto-focused firm submitted a supplemental letter to Judge Analisa Torres in its bid for an indicative ruling.

In the letter, Ripple sought to resolve a past court ruling that ordered a $125 million penalty.

The company emphasized that this move does not challenge the court’s findings. Instead, it aims to conclude proceedings efficiently while respecting securities laws. It also said it remains committed to full compliance and supports a resolution that reduces strain on the appeals process.

Mentioned in this article

Opening today, Purpose Investments’ XRP ETF (ticker XRPP) has become the first fund anywhere to offer investors direct, regulated exposure to XRP, the cryptocurrency behind Ripple’s payment network, through an exchange-traded vehicle. Trading began on the Toronto Stock Exchange at the opening bell, marking another Canadian first in digital-asset finance after the country pioneered spot bitcoin and ether ETFs in 2021 and 2023, respectively.

Regulatory Green Light and Listing Details

Ontario Securities Commission staff issued a final prospectus receipt earlier this week, clearing the way for today’s launch. The ETF lists in three share classes: CAD-hedged (XRPP), unhedged CAD (XRPP.B) and USD (XRPP.U), mirroring the structure Purpose already uses for its bitcoin and ether products. All units give investors unleveraged, one-for-one exposure to spot XRP held in cold storage by Gemini and Coinbase, with daily transparency on holdings published to the fund’s website.

Significance for Canada’s Crypto Market

The listing cements Canada’s role as an early adopter of regulated crypto investment vehicles. By beating the United States to a spot XRP product, Canadian issuers extend their lead in offering mainstream access to alternative digital assets. Purpose chief innovation officer Vlad Tasevski said demand for “advisor-ready” structures has risen sharply since last year’s approval of multi-asset crypto funds, adding that XRP has been “one of the most requested” additions to the firm’s line-up.

Investor Appeal, Costs and Risks

XRPP charges a management fee of 0.69%, broadly in line with established crypto ETFs and well below typical fees at retail exchanges. The CAD-hedged class aims to neutralise currency swings for domestic buyers, while the unhedged and USD units cater to those comfortable assuming foreign-exchange risk. Purpose emphasises that the ETF can be held in registered plans such as RRSPs and TFSAs, removing the need for self-custody or specialist brokerage accounts. Still, the fund’s prospectus warns that XRP remains highly volatile and that regulatory outcomes in the United States, where the token is still embroiled in securities litigation, could affect liquidity and price.

Competitive and International Context

Purpose’s milestone has spurred immediate competition. Just hours after XRPP’s debut, rival manager 3iQ rang the TSX closing bell to celebrate the launch of XRPQ, a second spot XRP ETF that is waiving management fees for its first six months. The rapid follow-on illustrates both the depth of Canadian capital markets infrastructure and the scramble among issuers to secure first-mover advantage ahead of any future U.S. approvals. South of the border, firms such as Franklin Templeton and ProShares have pending filings, but the Securities and Exchange Commission is unlikely to decide before the autumn, even under its more crypto-friendly leadership.

Conclusion

With XRPP now trading, Canadian investors have a new, regulated path to one of the largest alternative crypto-assets. Supporters argue that XRP’s real-world payments focus diversifies crypto exposure beyond bitcoin’s “digital gold” narrative. Critics counter that unresolved U.S. litigation and token-price volatility make the asset a niche allocation at best. For now, the launch underscores Canada’s willingness to test regulated crypto innovation while larger markets deliberate. Whether the product attracts enduring flows will depend on market sentiment, fee competition and the pace of legal clarity abroad.

Related

Crypto asset manager 3iQ has introduced an XRP

exchange-traded fund (ETF) on the Toronto Stock Exchange, the company said on Wednesday.

The 3iQ XRP ETF (TSX: XRPQ) will launch with a 0% management fee for the first six months and is available for investment through registered accounts in Canada, and its TSX listing enables access for qualified investors globally, subject to local regulations, according to a press release.

Earlier this week, asset manager Purpose Investments announced it would also begin on Wednesday trading of a spot XRP ETF on the Toronto Stock Exchange under the XRPP ticker.

3iQ was one of the first fund managers to list a bitcoin

fund, with its Bitcoin Fund on the TSX, and the first with a publicly listed ether fund, also in Toronto. Ripple, the creator of the XRP token, is an early investor in 3iQ’s XRPQ vehicle (the amount invested was not disclosed).

“XRP 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,” said Pascal St-Jean, president and CEO of 3iQ.

“Ripple Labs’ investment support reflects our shared leadership in advancing the digital asset space,” he said.

The 3iQ team will ring the closing bell this afternoon on the TSX floor to commemorate the ETF launch, the company said.

Read more: Spot XRP ETF Set to Start Trading in Canada This Week After Regulatory Nod, Token Up 7%

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Ontario Securities Commission (OSC) has granted Purpose Investments Inc. the approval to launch a spot XRP exchange-traded fund (ETF) on the Toronto Stock Exchange (TSX).

This particular ETF will offer CAD-hedged, CAD non-hedged, and US dollar XRP products from June 18 onwards.

Interestingly enough, Purpose Investments is the same financial entity that launched the world’s first Bitcoin ETF back in 2021.

As investor interest around $XRP continues to grow, we’ll point you towards the best crypto to buy now to benefit from this development.

$XRP Technical Analysis

$XRP has been trading in a tight zone for a few weeks now. The immediate support is around $2.10–$2.05, with resistance at $2.34.

The token tried to break through the resistance on June 16, i.e., when the XRP ETF was approved.

Although the breakout wasn’t successful, the tides could change soon thanks to growing whale interest and XRP product launches.

An XRP bull run could see the token hit $3 in the next few weeks and up to $4 by the end of the year.

The RSI (relative strength index) is also around 46, which is a ripe neutral level, indicating shifting market sentiments, probably towards the buy side.

With XRP gaining momentum, this could be the start of a broader altcoin rally. Here are the best tokens to buy now to ride the wave.

1. Snorter Token ($SNORT) – Best Crypto to Buy Now, Powers a Top Telegram Trading Bot

Snorter Token ($SNORT) is hands down one of the best cryptos to invest in right now. It’s the native cryptocurrency of the highly secure, feature-laden, and easy-to-use Telegram trading bot.

Snorter’s biggest selling point is the automated sniping of new meme coins on presale. Noted that this is nearly impossible to do manually because of crypto whales and their automated tools.

In addition to being super easy to use – just top up your crypto wallet and trade directly from Telegram – Snorter is also incredibly privacy-conscious.

It comes with MEV-resistant systems that will protect you from sandwich attacks. What’s more, there’s also protection against rug pulls and honeypots.

Buying $SNORT will not only give you total access to Snorter Bot, but it’ll also lower the trading fees from 1.15% to just $0.85%, which is the lowest in the industry.

Snorter Token is currently in presale, with over $1M in early investor funding so far. One token is currently available for just $0.0957, and here’s how you can buy it.

2. BTC Bull Token ($BTCBULL) – Best Meme Coin for Bitcoin Maximalists

It wouldn’t be speculation but a simple educated guess to say that Bitcoin will join XRP in the next bull run.

If you want to maximize your returns from a Bitcoin rally, BTC Bull Token ($BTCBULL) is the best altcoin to buy now.

This crypto project works by distributing free $BTC to its token holders (via airdrops) every time Bitcoin reaches a new milestone ($150K & $200K) for the first time.

To be eligible, you’ll need to buy $BTCBULL tokens and store them in Best Wallet. Also, make sure to opt-in to the project’s airdrop events on social media.

If you want to be on the receiving end of $BTCBULL’s potential 1,800% rally, become an early investor now.

The project is currently in presale, where it has raised more than $7.2M at the time of writing.

3. Aura ($AURA) – Hottest Token on the Market Right Now

As you might have guessed, $AURA is based on the internet phenomenon ‘aura,’ also known as digital vibe or clout on social media platforms like X and TikTok.

Token holders get a chance to quantify their ‘aura’ by using the project’s one-of-a-kind meme generator to create +Aura memes.

Despite being a hype-driven token, not one with real utility, $AURA is the best recent example that meme coins don’t have to have strong fundamentals to be profitable investments.

It’s one of the top trending cryptos right now, having climbed up nearly 135% over the past week.

It’s currently trading at $0.1317, and a brief look at its chart suggests that it has the potential to rise higher, as it’s about to break through a descending triangle pattern.

Final Thoughts

The approval of the XRP spot ETF in Canada marks a pivotal moment for the broader crypto industry, signaling growing institutional confidence and mainstream adoption.

We believe that new cryptos like Snorter Token ($SNORT) and BTC Bull Token ($BTCBULL) could be the perfect way to fuel the market’s excitement and bullishness.

However, kindly bear in mind that crypto investments are highly risky. Our articles aren’t financial advice, and you must always do your own research before investing.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

XRP price continued to slide for the second straight day despite getting approval for the first spot ETF listing in Canada.

According to recent reports, asset manager Purpose Investments has received final approval from Canadian regulators to launch the country’s first spot XRP ETF. Trading for the Purpose XRP ETF will begin on Wednesday, June 18, on the Toronto Stock Exchange under the ticker XRPP.

Despite the approval giving Canadian investors an easy and regulated way to access XRP, it didn’t lift sentiment, and the token stayed under pressure. XRP (XRP) price dropped 3.4% in the past 24 hours to $2.17, with its market cap falling to $127 billion.

The decline came as the broader crypto market cap dropped 3.6% over the past day, with Bitcoin (BTC) and other major tokens also sliding amid weak overall sentiment.

This was largely driven by heightened geopolitical tensions in the Middle East and growing uncertainty surrounding the U.S. Federal Reserve’s upcoming interest rate decision. Rising inflation risks have dimmed hopes of imminent rate cuts, prompting a risk-off mood across financial markets.

Despite the bearish short-term pressure, several bullish catalysts are emerging for XRP.

A recent court filing in the SEC v. Ripple case revealed that both parties have agreed to a $50 million settlement. If approved, this settlement could finally resolve the long-standing legal battle that has overshadowed XRP’s regulatory clarity and hindered its broader adoption.

In addition, former CFTC Chair Chris Giancarlo, appointed during the Trump administration, proposed the idea of issuing government bonds for crypto assets such as Bitcoin and XRP. He shared these insights during the XRPL Apex 2025 conference in Singapore, signaling a growing policy shift in favor of regulated crypto finance.

Ripple also continues to push forward on product and regional expansion. The company is preparing for the rollout of its RLUSD stablecoin, a key addition to its ecosystem. Simultaneously, Ripple has been strengthening regulatory footholds in key crypto hubs like Dubai and Singapore, which could enhance XRP’s cross-border utility.

From a technical standpoint, XRP is forming a multi-month bull pennant pattern on the 1-week/USDT chart. This bullish continuation setup typically precedes a breakout, with price targets based on the length of the initial flagpole.

In XRP’s case, a breakout could project a move to $4.61, representing a 114% gain from current levels.

Supporting this thesis, technical analyst Mikybull Crypto drew parallels with XRP’s 2017 chart structure, noting that a similar bull pennant breakout preceded a rally of over 1,300% to all-time highs near $3.40.

Momentum indicators, however, present a mixed picture. On the weekly chart, a golden cross has recently formed, with the 50-day SMA crossing above the 200-day SMA, typically a bullish signal suggesting trend continuation.

In contrast, the daily chart has turned more bearish. The 200-day SMA has crossed above the 50-day SMA, forming a death cross, which is viewed as a bearish reversal indicator in technical analysis. In addition, both the MACD and RSI are trending lower, reinforcing short-term downside risks.

Investor uncertainty was further amplified after the SEC delayed its decision on Franklin Templeton’s proposed spot XRP ETF, extending the review period into late July. The delay, coupled with market-wide caution, has likely contributed to XRP’s underperformance.

If XRP loses the key psychological support at $2.00, further downside toward $1.62, its April 2025 low, appears likely before any sustained rebound. Conversely, holding above this level and breaking above the pennant’s resistance could reaffirm the bullish scenario and pave the way toward a retest of cycle highs.