Purpose Investments has officially announced the launch of the first XRP ETF in North America. Trading is set to begin on June 18, 2025, on the Toronto Stock Exchange.
Canada Approves First Spot XRP ETF
The new ETF from Purpose Investments will provide investors with direct exposure to XRP, currently the fourth-largest cryptocurrency by market capitalization. Unlike futures-based products, spot ETFs are backed by actual holdings of the underlying asset.
Comparison with the U.S. Situation
Canada stands as the first jurisdiction in North America to greenlight a spot XRP ETF. In contrast, the United States has yet to approve any spot XRP ETFs, with major asset managers like Franklin Templeton, WisdomTree, and Bitwise having submitted proposals to the SEC.
Overview of Existing U.S. XRP ETF Products
Although no spot XRP ETF has been approved in the U.S. to date, in April 2025, Teucrium launched a leveraged XRP ETF, aimed at delivering double the daily return of XRP. Additionally, Volatility Shares rolled out a futures-based ETF.
The launch of the first spot XRP ETF in Canada highlights regulatory progress in crypto products and opens new opportunities for investors. Meanwhile, the U.S. market continues to await similar product approvals.
