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.
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