Purpose Investments Inc. has received final approval to launch an XRP ETF that will begin trading on the Toronto Stock Exchange on June 18, 2025.
Features of the New ETF
The new ETF will trade under the ticker XRPP and will be available in several formats: * XRPP: CAD-hedged units * XRPP.B: CAD non-hedged units * XRPP.U: USD units Investors will be able to hold the ETF in tax-friendly accounts such as TFSAs and RRSPs.
Significance for the Canadian Crypto Market
Vlad Tasevski, Chief Innovation Officer at Purpose Investments, noted that this approval is significant for the country’s crypto market. "This signals Canada’s growing leadership in creating a secure, regulated environment for digital assets. We’re proud to lead the way by providing investors safe, reliable access to blockchain-powered technologies," he said.
XRP Market and Future Prospects
The XRP market is showing bullish signs, with the price having increased by more than 7% and climbing above the important $2.30 level at the time of writing. The launch of the ETF coincides with a key event—the Ripple vs. SEC case in the US, which may lead to legal clarity for XRP.
The launch of the first XRP ETF in Canada signals growing interest in cryptocurrencies within the country and could change perceptions of XRP as an investment asset.
