XRP network activity surges as Canada launches an XRP ETF
Canadian asset supervisor 3iQ has launched an XRP-focused exchange-traded fund (ETF) on the Toronto Inventory Alternate (TSX) below the XRPQ ticker.
Based on a June 18 statement, XRPQ will provide traders a six-month waiver on administration charges and maintain solely long-term positions on the digital asset. These belongings are sourced from respected exchanges and over-the-counter (OTC) platforms, and custody is secured via chilly storage.
3iQ acknowledged that Ripple, the blockchain agency linked to the token and the XRP Ledger (XRPL), is an early backer of the fund.
Pascal St-Jean, President and CEO of 3iQ, mentioned:
“XRP has demonstrated important progress potential over the previous decade, and this groundbreaking technique affords Canadian and certified world traders a clear, low-cost and tax-efficient technique to securely entry that chance.”
XRPQ is obtainable to Canadian traders via registered accounts. The asset supervisor added that eligible world traders can also take part, topic to regional guidelines.
This launch follows an analogous transfer by Objective Investments, which debuted its personal XRP ETF earlier this week.
XRP Ledger exercise spikes
The timing of XRPQ’s launch aligns with a notable surge in XRP community exercise.
Information from Santiment exhibits that energetic addresses on the XRP Ledger have jumped from a three-month common of 40,000 to 295,000, the best stage seen in 2025.
The agency additionally famous that the variety of wallets holding over 1 million XRP has reached a document 2,700. This group now holds a minimal of $2.25 million in XRP every, indicating rising curiosity from giant traders and establishments.
This improved community exercise could be linked to the blockchain community’s rising adoption by a number of stablecoin tasks, equivalent to Circle’s USD Coin (USDC).
Furthermore, the expansion can be linked to the developments within the long-standing authorized battle between the US Securities and Alternate Fee (SEC) and Ripple.
On June 17, the crypto-focused agency submitted a supplemental letter to Choose Analisa Torres in its bid for an indicative ruling.
Within the letter, Ripple sought to resolve a previous court docket ruling that ordered a $125 million penalty.
The corporate emphasised that this transfer doesn’t problem the court docket’s findings. As an alternative, it goals to conclude proceedings effectively whereas respecting securities legal guidelines. It additionally mentioned it stays dedicated to full compliance and helps a decision that reduces pressure on the appeals course of.
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