The North American crypto investment landscape reached a new milestone this week with the launch of the first XRP exchange-traded fund (ETF) by 3iQ Corp. on the Toronto Stock Exchange (TSX), under the ticker XRPQ. This ETF, which debuts with a 0% management fee for the first six months, offers investors a highly competitive, regulated, and cost-effective way to gain exposure to XRP, the third-largest digital asset by market capitalization. Ripple, the company behind the XRP Ledger, is an early investor in the fund, further reinforcing the ETF’s credibility and institutional backing.
The 3iQ XRP ETF is designed for both retail and institutional clients, allowing them to invest in XRP without the complexities of managing private wallets or navigating unregulated platforms. All underlying assets are held in standalone cold storage, acquired from reputable trading platforms and over-the-counter (OTC) counterparties, ensuring a high level of security and transparency. The ETF is available to Canadian investors through registered accounts and is also accessible to qualified global investors, subject to local regulations.
This launch comes at a time of heightened activity and interest in the XRP ecosystem. On-chain data reveals that the number of wallets holding at least one million XRP has surged to a record high of over 2,700, a level not seen in the token’s 12-year history. These “whale” and “shark” wallets, each holding at least $2.2 million worth of XRP at current prices, are seen as key influencers in the network. Their accumulation signals growing confidence among large investors, even as the market faces volatility and short-term price pressure.
Daily active addresses on the XRP Ledger have also spiked dramatically, averaging around 295,000 over the past week, up from a typical 35,000 to 40,000. This surge in network activity is partly attributed to recent developments such as the launch of Circle’s USDC stablecoin on the XRP Ledger, which is expected to boost transaction volume and demand for XRP. Additional institutional partnerships, like Ondo Finance’s tokenized US treasury fund and Guggenheim’s digital commercial paper issuance on XRPL, further highlight the growing utility and adoption of the network.
Despite these bullish on-chain signals, derivatives market data shows that traders on platforms like Deribit are stacking up short positions, betting on a 5% decline from current levels. This suggests a divergence between long-term accumulation by whales and short-term skepticism among leveraged traders. Such dynamics are not uncommon during periods of major market developments, as new investment vehicles like ETFs often trigger both speculative trading and genuine portfolio rebalancing.
The introduction of the XRP ETF by 3iQ is more than just another product launch, it marks a significant step in the maturation of crypto markets. By providing secure, regulated, and tax-efficient access to XRP, the ETF lowers barriers for both individual and institutional investors. Its zero-fee introductory period is likely to attract significant inflows, especially from those seeking hands-off exposure to digital assets within a familiar financial structure.
The launch of North America’s first XRP ETF comes amid record whale accumulation, surging network activity, and heightened derivatives market speculation. This convergence of institutional-grade investment products, robust on-chain fundamentals, and active trading dynamics underscores a pivotal moment for XRP and the broader digital asset market. As regulatory clarity and product innovation continue to advance, the stage is set for further integration of crypto assets into mainstream financial portfolios.
