Purpose Investments Inc. has officially secured regulatory approval for its Purpose XRP ETF, making it the first spot XRP ETF in Canada. The ETF is set to launch on the Toronto Stock Exchange (TSX) under the ticker symbol XRPP on June 18, 2025, providing a regulated avenue for investors to gain direct exposure to XRP.
Vlad Tasevski, Chief Innovation Officer at Purpose Investments, highlighted the approval as a significant milestone for Canada's crypto landscape. He remarked, "This signals Canada’s growing leadership in creating a secure, regulated environment for digital assets. We’re proud to lead the way by offering investors safe, reliable access to blockchain-powered technologies."
The ETF will offer various units to cater to different investor preferences, including CAD-hedged, non-hedged, and US dollar units. Additionally, Canadian investors can hold the Purpose XRP ETF in tax-advantaged accounts like TFSAs and RRSPs, simplifying the investment process.
This milestone arrives at a pivotal moment as the Ripple vs. SEC case progresses in the U.S., with the potential for increased legal clarity regarding XRP. The general market sentiment is positive, with XRP’s price already showing bullish trends, jumping over 7% and crossing the $2.30 threshold at the time of writing.
Vlad Tasevski, Chief Innovation Officer at Purpose Investments, highlighted the approval as a significant milestone for Canada's crypto landscape. He remarked, "This signals Canada’s growing leadership in creating a secure, regulated environment for digital assets. We’re proud to lead the way by offering investors safe, reliable access to blockchain-powered technologies."
The ETF will offer various units to cater to different investor preferences, including CAD-hedged, non-hedged, and US dollar units. Additionally, Canadian investors can hold the Purpose XRP ETF in tax-advantaged accounts like TFSAs and RRSPs, simplifying the investment process.
This milestone arrives at a pivotal moment as the Ripple vs. SEC case progresses in the U.S., with the potential for increased legal clarity regarding XRP. The general market sentiment is positive, with XRP’s price already showing bullish trends, jumping over 7% and crossing the $2.30 threshold at the time of writing.
