Purpose Investments has received final approval to launch the Purpose XRP ETF, set to begin trading on the Toronto Stock Exchange on June 18. The ETF will provide investors direct access to XRP.
Key Features of Purpose XRP ETF
Purpose Investments has announced the Purpose XRP ETF, which will trade on the Toronto Stock Exchange under the tickers XRPP (CAD-hedged), XRPP.B (CAD), and XRPP.U (USD). The ETF will provide direct exposure to spot XRP, and investors can utilize the ETF within their registered accounts, including TFSAs and RRSPs.
Market Growth of ETFs
Research shows that XRP has surpassed many altcoins in the number of ETF applications. Interest in XRP ETFs is surging, with approval odds reported by Polymarket at 88% since early June.
Role of Canadian Regulation in Crypto Investment
Purpose Investments CEO Som Seif highlighted that the ETF's approval reinforces Canada's global leadership in establishing a regulated digital asset ecosystem. This context emphasizes Canada's support for legal investments in digital assets through straightforward products.
The launch of the Purpose XRP ETF marks a significant step towards legitimizing and simplifying access to digital assets for investors, also showcasing Canada's role in developing a regulated crypto ecosystem.
