What to know:
- Purpose Investments is launching a spot XRP exchange-traded fund (ETF) in Canada after receiving regulatory approval.
- The ETF will trade on the Toronto Stock Exchange under the ticker XRPP starting Wednesday, June 18.
- XRP’s price rose nearly 7% over the past 24 hours, outperforming bitcoin and the CoinDesk 20 Index.
- Purpose launched the world’s first spot bitcoin ETF, in Canada, in 2021.
Asset manager Purpose Investments is set to launch a spot XRP
exchange-traded fund (ETF) in Canada this week after obtaining regulatory approval, giving investors a way to gain exposure to the fourth-largest cryptocurrency by market capitalization through traditional investment accounts.
The ETF will start trading on the Toronto Stock Exchange on Wednesday, June 18, under the XRPP ticker, according to a Monday press release. The move comes after the Ontario Securities Commission (OSC) granted final prospectus receipt for the investment vehicle, the company said.
XRP was up nearly 7% over the past 24 hours following the news, outperforming bitcoin
and the broad-market CoinDesk 20 Index.
“The OSC’s granting of a receipt for the Purpose XRP ETF prospectus reinforces Canada’s global leadership in building a regulated digital asset ecosystem,” Vlad Tasevski, chief innovation officer at Purpose Investments, said in a press release.
Purpose Investments in 2021 launched in Canada the world’s first spot bitcoin ETF, years before the vehicles’ approval in the U.S.
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2025-06-16 20:56