Purpose Investments has announced the launch of Purpose XRP ETF following approval from the Ontario Securities Commission. The new fund will begin trading on the Toronto Stock Exchange in 2025.
Description of Purpose XRP ETF
The Purpose XRP ETF will offer investors direct access to XRP, which operates on the XRP Ledger and supports fast, low-cost cross-border payments. The fund will be traded under three different tickers: XRPP (CAD hedged), XRPP.B (CAD), and XRPP.U (USD).
Features and Benefits of the Fund
The fund can be held in registered investment accounts such as TFSAs and RRSPs, providing tax advantages for Canadian investors. The Purpose XRP ETF aims to simplify access to cryptocurrency for a wider audience.
Statement from Vlad Tasevski
This OSC approval further demonstrates Canada’s global leadership in building a regulated ecosystem for digital assets. We are proud to engage investors in safe and accessible ways to build infrastructure that supports real-world blockchain adoption, said Vlad Tasevski, Chief Innovation Officer at Purpose Investments.
The launch of the Purpose XRP ETF reflects the growing interest in digital assets and regulated financial instruments in Canada. This step could mark an important milestone for the investment market in the cryptocurrency sector.
