- Main event in Canadian crypto market.
- ETF reached $50M AUM in a month.
- Retail and institutional demand drives growth.
3iQ Corp., led by CEO Pascal St-Jean, launched its XRP ETF on the Toronto Stock Exchange, surpassing $50 million in assets within a month.
The rapid accumulation of $50 million in assets underlines increasing investor confidence in XRP’s potential, with significant contributions from both retail and institutional sectors.
3iQ Corp., a pioneer in regulated crypto asset offerings, made history with its XRP ETF on the Toronto Stock Exchange. Ripple was an early investor, enhancing the fund’s credibility. The ETF, with 0% management fee for six months, attracted considerable interest.
Retail and institutional investors contributed to the fund’s rapid growth, propelling its assets to over $50 million. CEO Pascal St-Jean highlighted the broad engagement from varied investor categories as a key factor in its success.
Market implications of the ETF’s success include increased investor confidence in single-asset funds. XRP’s potential for greater mainstream adoption is evident, emphasizing the significance of 3iQ’s strategic positioning. Pascal St-Jean, President and CEO, 3iQ, stated, “Both retail and institutional investors are responsible for the product’s early success.”
The fund’s growth serves as a key indicator of rising acceptance of digital assets in traditional finance markets. Historical trends from prior ETFs support this trajectory, suggesting potential for similar future performances.
