3IQ XRP ETF(OTC:XRPFF)

The fund provides exposure to the digital asset XRP while seeking opportunities for long-term capital appreciation. It aims to provide a convenient, safer alternative to a direct investment in XRP by purchasing its long-term XRP holdings from reputable digital asset trading platforms and OTC counterparties. These platforms facilitate XRP-USD spot trading without being regulated as securities or commodity futures exchanges. Holdings are priced based on the CME CF XRP-Dollar Reference Rate New York Variant, a once-a-day benchmark index price for XRP, denominated in US dollars. The fund avoids short-term speculation, does not hedge U.S. dollar exposure, and adheres to alternative mutual fund restrictions under NI 81-102. Borrowing is limited to short-term needs, while XRP futures trading, including CME-listed contracts regulated by the CFTC, is capped at 5% of NAV.