Toronto-based asset manager Purpose Investments has secured regulatory approval to launch North America's first spot XRP exchange-traded fund (ETF) in Canada. The Purpose XRP ETF will begin trading on the Toronto Stock Exchange on June 18, 2025, under the ticker symbol XRPP, providing investors with direct exposure to XRP through traditional investment accounts.
Key Features of the Purpose XRP ETF
The fund offers three share classes:
- CAD-hedged (XRPP)
- CAD non-hedged (XRPP.B)
- USD-denominated (XRPP.U)
This milestone follows Purpose Investments' filing of its preliminary prospectus on January 31, 2025. The Ontario Securities Commission granted the final prospectus receipt, clearing the last regulatory hurdle before trading begins.
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Institutional Adoption and Market Impact
The approval signals Canada's leadership in crypto investment innovation, coming four years after Purpose launched the world's first spot Bitcoin ETF in 2021. Vlad Tasevski, Purpose's Chief Innovation Officer, emphasized: "We're providing investors with simple, secure access to blockchain infrastructure powering real-world adoption."
Global XRP Investment Landscape
While Canada pioneers the spot XRP ETF:
- Brazil's Hashdex launched its XRP ETF in April 2025
- Multiple U.S. firms (Bitwise, WisdomTree, Franklin Templeton, Grayscale) have SEC filings pending
- CME Group's regulated XRP futures suggest an 88% chance of U.S. approval in 2025
Regulatory Context and Future Outlook
The launch occurs amid Ripple's ongoing SEC lawsuit regarding XRP's classification. Analysts suggest this Canadian approval could pressure U.S. regulators to accelerate their review process, especially given XRP's utility in cross-border payments.
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FAQ: Purpose XRP ETF
1. How does the Purpose XRP ETF differ from buying XRP directly?
The ETF provides regulated exposure through traditional investment accounts without requiring investors to manage private keys or crypto wallets.
2. What accounts can hold the XRP ETF?
Canadian investors can hold XRPP in TFSAs, RRSPs, and other registered accounts.
3. Why is this approval significant?
It represents the first spot XRP ETF in North America and could influence global regulatory approaches to crypto investment products.
4. How might the Ripple-SEC case affect this ETF?
While the Canadian product operates independently, a favorable U.S. resolution could accelerate similar approvals elsewhere.
5. What are the management fees?
Purpose Investments hasn't disclosed fees yet, but they're expected to be competitive with other crypto ETFs (typically 0.75%-1.25%).