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After Bitcoin and Ethereum, ETF approval is expected in the US for altcoins such as $XRP, Solana (SOL) and Cardano (ADA).
However, not every country is taking altcoin ETFs as slowly as the US. At this point, Canada is taking important steps regarding $XRP ETFs, while Canadian companies 3iQ and Purpose have launched $XRP ETFs.
At this point, Canadian crypto asset manager 3iQ launched its $XRP ETF with zero management fees for six months, while Purpose launched its spot $XRP ETF on June 18, offering direct spot access to $XRP.
While $XRP ETFs are gaining significant traction in the country, 3iQ CEO Pascal St-Jean has revealed a key advantage of their newly launched 3iQ $XRP ETF (XRPQ).
The CEO said that the $XRP ETF they offer gives institutional investors access to $XRP at rates that retail investors cannot match.
At this point, the CEO claimed that no retail investor would be able to buy $XRP at the price that institutional players are buying it at globally.
The 3iQ CEO said that the company’s $XRP ETF has become the largest $XRP ETF in the country, stating that it secures pricing and storage that no retail investor can reach.
“No retail advisor or investor can purchase $XRP at the price we are offering globally.
At this point, even after the zero-fee period ends, XRPQ will continue to be the most cost-effective $XRP ETF on the market.”
Ripple, the company behind $XRP, has also said it supports ETFs in Canada, stating that it was an early backer.
Experts noted that, according to data, XRPQ made headlines as the largest $XRP ETF in Canada in just a few days, marking a significant turning point in institutional adoption for $XRP.
*This is not investment advice.