North America’s first spot XRP ETF crashes 18%

North America’s first spot XRP exchange-traded fund (ETF) has suffered a sharp downturn, in line with broader market volatility. 

The 3iQ XRP ETF (XRPQ.U), listed on the Toronto Stock Exchange, has plunged nearly 18% over the past month to $11.32 as of October 22. 

The decline mirrors the weakness across altcoins, with XRP itself struggling to maintain support above the $2 mark. Despite the pullback, the ETF remains up 5.91% since inception, according to data from its live chart.

XRPQ price chart. Source: TradingView

Launched by 3iQ Corp. in June 2025, the ETF made history as the first spot XRP ETF in North America. 

Around the same time, Purpose Investments also introduced its own XRP fund, trading under the tickers XRPP, XRPP.B, and XRPP.U, each offering direct exposure to XRP in CAD and USD denominations.

U.S. XRP ETF delays 

Meanwhile, in the United States, several asset managers are attempting to follow Canada’s lead by filing for spot XRP ETFs, but none have received regulatory approval so far. 

For instance, WisdomTree was among the first to submit an application in late 2024 to list an XRP ETF on the Cboe BZX Exchange. However, the U.S. Securities Exchange Commission (SEC) has repeatedly delayed its decisions, with further postponements emerging amid the ongoing government shutdown. 

Most analysts now believe that a U.S. spot XRP ETF might only materialize toward the end of 2025, depending on regulatory progress, a development that could significantly influence XRP’s price trajectory.

Notably, the Canadian products have had minimal impact on XRP’s price due to the relatively small size of the market. In contrast, a U.S. approval is expected to have a far greater effect, given the country’s deeper capital markets and investor base.

At press time, XRP was struggling to reclaim the $2.50 resistance level, trading at $2.39 after a 1% decline in the past 24 hours.

 On the weekly timeframe, the token has dropped 4.5%, extending its recent downtrend despite growing optimism for a potential U.S. ETF approval later next year.

Featured image via Shutterstock

Source: https://finbold.com/north-americas-first-spot-xrp-etf-crashes-18/