3iQ’s XRP ETF reaches $50 million in assets under management

Canada-based 3iQ’s XRP ETF now has more than $50 million in assets under management.

The XRP ETF, which was launched on 18 June with a 0% management fee for the first six months, achieved the $50 million mark within four weeks of its launch.

3iQ’s XRP ETF is one of the first in the North American region, providing exposure to XRP, the world’s third-largest crypto asset by market cap.

It invests only in long-term XRP holdings purchased from reputable digital asset trading platforms and over-the-counter counterparties.

At the launch, 3iQ’s XRP ETF received investment from Ripple Labs.

“This significant milestone for our XRP ETF shows the continuing strong interest in these assets and highlights how retail and institutional investors are becoming increasingly discerning with their allocations, selecting this asset which offers a combination of the flexibility that comes with exchange traded funds, combined with the 0% management fee at launch that contrasts with the higher premiums which were the hallmark of earlier digital asset ETFs,” said Pascal St-Jean, President and CEO of 3iQ.

Founded in 2012, 3iQ is one of the well-known alternative digital asset managers. 3iQ also launched the world’s first Digital Assets Managed Account Platform (QMAP), a hedge fund investment solution.

‍