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Purpose Investments will launch the first spot XRP exchange-traded fund (ETF) in the world on June 18, 2025. The product has attained the status of regulatory clearance in Canada. This allows it to be directly exposed to the cryptocurrency XRP and commence trading on the Toronto Stock Exchange. This is a landmark for the crypto community and the growing digital asset industry in Canada.
The Ontario Securities Commission has given final approval to the ETF named Purpose XRP ETF. This marks the first North American spot XRP ETF, thereby affording Canada yet another triumph in the digital-asset domain. The country was also the first to approve spot Bitcoin and Ethereum ETFs in recent years.
Purpose Investments, the manager of this product, is reputable for being the first to bring the world’s first spot Bitcoin ETF to market back in 2021. With the new product, the firm is growing its offerings of crypto-backed investment products to investors in Canada.
The Purpose XRP ETF will have three ticker symbols:
XRPP (hedged in CAD)
XRPP.B (unhedged, Canadian dollars)
XRPP.U (US dollars)
The ETF will be sold to retail and institutional buyers through registered accounts such as RRSPs and TFSAs. As deeds of creation of Exchange-Traded Funds is underway, some investment ventures will be allowed into the sphere of talk on XRP.
Operations such as this will be done without forcing an investor to hold the digital asset themselves. Physical XRP being held will give the ETF a direct link with the present price of the token.
After the ETF declaration, prices of XRP increased by approximately 7 percent, indicating immense interest from the market. Crypto experts explain the move could mean greater legitimacy and access for XRP, which has long been among the most widely traded digital assets across the world.
Unlike products that are based on futures, spot ETFs enable investors to follow the underlying market price of the asset that they own. This feature is considered a key benefit. This is helpful for those who desire a straightforward method for investing in crypto using mainstream platforms.
Also Read: Is XRP Your Last Best Bet to Become a Crypto Millionaire?
While Canada moves forward, the United States is still deliberating on a place XRP ETF. The US Securities and Exchange Commission (SEC) has yet to give the go-ahead for such a product, keeping investors in the country waiting.
Compared to that, Canada’s open-minded approach continues to make it a destination of choice for crypto-associated financial products. This has further entered into the Purpose XRP ETF to enhance that reputation.
With the ETF slated to be launched this June 18, Canadian investors will have a new, regulated method of accessing XRP without any hitches.
