On June 18, 2025, Purpose Investments will debut its first spot XRP ETF on the Toronto Stock Exchange, marking an important step in crypto investing in Canada.
Overview of Purpose XRP ETF
The Purpose XRP ETF will trade on the Toronto Stock Exchange under three tickers: XRPP (CAD-hedged), XRPP.B (CAD), and XRPP.U (USD). This fund provides direct exposure to XRP, the cryptocurrency often linked to cross-border payments.
Who Can Invest & How?
The ETF is designed for broad investor access. It is eligible for Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs), making it easy for Canadians to include XRP in their long-term portfolios. Additionally, the product is available in multiple currencies, including CAD-hedged, unhedged CAD, and USD.
Significance of the ETF Launch
The Purpose XRP ETF offers direct price correlation with the market, unlike futures-based funds, which hold actual XRP. This opens up opportunities for portfolio diversification and gaining a cryptocurrency niche within tax-advantaged accounts. The success of this ETF also emphasizes growing recognition of digital assets in the mainstream.
The launch of the Purpose XRP ETF underscores the Canadian market's commitment to integrating cryptocurrencies into investment strategies, providing a new tool for cashless transactions and portfolio diversification.
