Purpose Launches XRP Spot ETF
Purpose Investments Launches XRP Spot ETF on June 18th
Purpose Investments, creators of the world's first spot Bitcoin ETF, is expanding its offerings. On Wednesday, June 18th, they will launch the Purpose XRP ETF on the Toronto Stock Exchange (TSX).
Key Features of the Purpose XRP ETF
- Provides direct exposure to spot XRP, the native token of the XRP Ledger.
- Trades under the ticker symbol XRPP.
- Offers three unit options: CAD-hedged (XRPP), CAD non-hedged (XRPP.B), and US dollar (XRPP.U), catering to diverse investor needs.
- Eligible for registered accounts, including TFSAs and RRSPs.
Vlad Tasevski, Chief Innovation Officer at Purpose Investments, stated that the ETF's approval highlights Canada's leading role in providing investors with secure, compliant access to digital assets like XRP. He emphasized the ETF's aim to offer "simple, secure access to the infrastructure powering real-world blockchain adoption."
This launch follows Purpose Investments' earlier introductions of Bitcoin and Ether ETFs, reflecting their commitment to making crypto assets more accessible to traditional investors through regulated investment vehicles. The firm initially filed for the XRP ETF in January 2025.
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