The Purpose XRP ETF, under the management of Purpose Investments, is set to commence trading on the Toronto Stock Exchange beginning June 18, following the official approval from the regulatory authorities.
Key Information:
- The ETF will be accessible via the ticker XRPP.
- XRP’s price has surged approximately 7% in the past day, outperforming Bitcoin and the broader CoinDesk 20 index.
- Purpose Investments has previously launched the first spot Bitcoin ETF in Canada in 2021.
Investors can use the ETF as a pathway to gain exposure to XRP, the fourth-largest cryptocurrency by market capitalization, via traditional investment accounts.
This latest approval from the Ontario Securities Commission (OSC) reaffirms Canada’s position as a frontrunner in establishing a well-regulated digital asset market. Vlad Tasevski, Chief Innovation Officer at Purpose Investments, stated, “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.”
