Purpose Investments Inc. has announced the launch of its new product, Purpose XRP ETF, expected to start trading on the Toronto Stock Exchange (TSX) on June 18, 2025.
What is Purpose XRP ETF?
Purpose XRP ETF provides investors with the opportunity to gain direct exposure to XRP. The ETF has been approved following the receipt from the Ontario Securities Commission (OSC).
Versions and Investment Opportunities
Purpose XRP ETF will be available in three versions: a Canadian dollar-hedged unit (XRPP), a Canadian dollar non-hedged unit (XRPP.B), and a U.S. dollar unit (XRPP.U). All versions can be held in registered accounts like TFSA and RRSP.
ETF Market and XRP's Future
The launch of Purpose XRP ETF adds to the existing ETF offerings from the company, which already includes products based on Bitcoin and Ethereum. While SEC has not made decisions on XRP ETF applications in the U.S., there is a high likelihood that applications from ProShares and Franklin Templeton might be among the first to get approved.
The launch of Purpose XRP ETF highlights the growing interest in regulated digital assets in the Canadian market, providing opportunities for investors interested in XRP.
