Positive News for XRP Comes One Step Closer to Spot ETF Approval in the US!

While the possibility of approval for an XRP ETF in the US has increased following the settlement between the SEC and Ripple, positive news has been coming one after another for XRP ETFs around the world. At this point, positive news for XRP came from Canada. According to Coindesk, Canadian crypto asset manager 3iQ said it launched an XRP ETF with zero management fees for six months. The ETF, which will start trading on the Toronto Stock Exchange under the ticker XRPQ, offers investors direct exposure to the fourth largest cryptocurrency by market value. The ETF is launching with a 0% management fee for six months, invests only in long-term XRP positions acquired from reputable exchanges and OTC platforms, and all assets are held in cold storage, according to the announcement. “XRPQ is one of the first exchange-traded funds (ETFs) in North America that provides investors with exposure to XRP, the third-largest digital asset by market cap. 3iQ's XRP ETF enables investors to invest in XRP in a transparent and cost-effective manner for the long term.” “XRP has demonstrated significant growth potential over the past decade, and this groundbreaking strategy provides Canadian and qualified global investors with a transparent, low-cost, and tax-efficient way to securely access this opportunity,” said Pascal St-Jean, CEO of 3iQ. “Ripple Labs’ investment support reflects our collective leadership in advancing the digital asset space.” 3iQ's XRP ETF comes alongside Purpose Investments' spot XRP ETF (TSX:XRPP), which will begin trading this week. *This is not investment advice. Continue Reading: Positive News for XRP Comes One Step Closer to Spot ETF Approval in the US!