Purpose Investments has announced the launch of a spot XRP exchange-traded fund (ETF) in Canada, set to begin trading on the Toronto Stock Exchange on June 18 under the ticker XRPP. The Ontario Securities Commission (OSC) has approved the final prospectus receipt for this investment vehicle, which allows investors to gain exposure to XRP through traditional accounts. Following this news, XRP surged nearly 7%, outperforming both Bitcoin and the broader CoinDesk 20 Index.
Vlad Tasevski, chief innovation officer at Purpose Investments, highlighted that this approval reinforces Canada’s position as a leader in the regulated digital asset space. Purpose Investments previously launched the world’s first spot Bitcoin ETF in Canada back in 2021, showcasing its role in this evolving market. The launch of this ETF will provide average investors a pathway to participate in the XRP market without needing to handle the cryptocurrency directly.
Vlad Tasevski, chief innovation officer at Purpose Investments, highlighted that this approval reinforces Canada’s position as a leader in the regulated digital asset space. Purpose Investments previously launched the world’s first spot Bitcoin ETF in Canada back in 2021, showcasing its role in this evolving market. The launch of this ETF will provide average investors a pathway to participate in the XRP market without needing to handle the cryptocurrency directly.
