Purpose Investments, one of Canada's largest investment management firms, announced the launch of a new XRP ETF with a waived management fee for the first eight months. This move underscores the active development of the crypto industry in the country.
Overview of the New XRP ETF
Purpose Investments confirmed that their new spot-based XRP ETF will not charge a management fee until February 2026. This decision may attract the attention of investors looking to invest in cryptocurrencies.
Fees and Fund Management
While the initial fee for the first eight months is 0%, after this period, an annual fee of 0.69% will be introduced. The total management expense ratio (MER) is capped at 0.89%, allowing investors to know the maximum costs. As of June 18, the fund had CAD $8.3 million worth of assets under management.
Comparison with the U.S. and Future of XRP ETFs
Alongside Purpose Investments, other firms like 3iQ and Evolve have also launched their spot XRP ETFs. This indicates that Canada is outpacing the U.S. in terms of regulatory clarity and crypto investment innovation. In the U.S., several proposals for XRP ETFs are currently under consideration for approval, but there is still no clear outcome.
With the launch of the new XRP ETF that waives management fees, Canada remains at the forefront of regulation and innovation in the crypto industry. Interest in ETFs continues to grow, and their success in the country may influence future decisions in other jurisdictions.
