3IQ Digital Asset Management has announced that its Spot XRP-based ETF is outweighing its $50 million assets under management. This is an important milestone for the fledgling product that debuted last month.
This has become the largest North American spot ETF focusing on ripple linked tokens.
According to CEO and President Pascal St-Jean, both retail and institutional investors are responsible for the early success of the product.
As reported by U.Today, 3IQ was one of the first publishers to launch Spot ETF in Canada. Purpose Investment and Evolve Funds Group also debuted competing products related to popular Altcoin on the same day.
How about our ETFs?
The Canadian ETF market is relatively small compared to the US ETF market (equivalent to $43.2 billion and $10 trillion under management, respectively).
Several publishers, including Franklin Templeton, Bitwise and 21Share, are also competing for launching the Spot XRP ETF in the US. However, such products are not yet approved by the SEC.
More than a dozen filings remain in the review, and their approval is not expected to take place until the fourth quarter of 2025.
As Reported by U.TodayXRP ETFs could become trapped within regulatory scope as the SEC continues to work on streamlining the process of Crypto ETF approval.
However, Polymerk bettors remain bullish with the 2025 XRP ETF approved odds. Such products have a green light potential from 98% this year in early June.
