Investment firm 3iQ’s Solana Staking ETF (SOLQ) and XRP ETF (XRPQ) have set new records for assets under management (AUM), making them the largest ETFs in Canada.
According to the official announcement, the SOLQ ETF now has more than CAD 300 million in AUM, and the XRPQ ETF now has more than CAD 150 million, making them the largest in Canada under their categories.
Solana Staking ETF (SOLQ) made news earlier this year when it raised an impressive C$90 million in just two days. It quickly became Canada’s largest Solana ETF in terms of AUM. After that, 3iQ started its XRP ETF, which was also a first. In only three days of trading, XRPQ had more than C$32 million in AUM, making it the largest XRP-focused ETF in Canada.
Pascal St-Jean, President and CEO of 3iQ, said that the success of SOLQ and XRPQ at the same time shows that more investors want regulated, easy-to-use crypto investment vehicles.
“The momentum behind SOLQ and XRPQ demonstrates that Canadian investors and global leaders in the digital asset space are embracing secure, transparent, and regulated access to digital assets,” he said.
XRPQ had a 0% management fee for the first six months, which made it one of the cheapest digital asset ETFs on the market. Ripple, one of the biggest enterprise blockchain companies, backed the fund early on, which also helped its credibility.
Canada is now at the forefront of crypto-linked ETF innovation thanks to these quick milestones. This makes it easy for investors to get into altcoins like Solana and XRP.
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