Crypto asset manager 3iQ has introduced an XRP XRP exchange-traded fund (ETF) on the Toronto Stock Exchange, marked as TSX: XRPQ. The fund will initially have a 0% management fee for its first six months. Investment through registered accounts in Canada is now possible, enabling access for qualified international investors under local regulations.

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

3iQ is recognized as one of the pioneering fund managers that first listed a bitcoin fund on the TSX with its Bitcoin Fund and subsequently with a publicly listed ether fund in Toronto. Ripple, the company behind XRP, is noted as an early investor in 3iQ’s XRPQ venture.

“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 added.

To celebrate the launch, the 3iQ team is scheduled to ring the closing bell on the TSX floor later today.