Purpose Launches Ripple ETF: A New Way to Invest in XRP

Purpose Investments, a Canadian asset manager, has filed a preliminary prospectus with Canadian securities regulators for the proposed Purpose Ripple ETF, aiming to invest substantially all of its assets in long-term holdings of Ripple-promoted XRP. The company, known for launching the world's first Bitcoin and Ether ETFs, believes that an ETF can offer investors a transparent and familiar way to access XRP within a regulated framework.

The Purpose Ripple ETF plans to provide holders of ETF Units with the opportunity for long-term capital appreciation without the hassle of holding the cryptocurrency directly. The fund manager, with over $23 billion in assets under management, is dedicated to innovating and connecting traditional finance with decentralized finance. The company's founder and CEO, Som Seif, stated that as XRP gains more adoption and institutional interest, an ETF would provide investors with a clear and regulated way to invest in it.

Vlad Tasevski, Chief Innovation Officer at Purpose Investments, emphasized that the launch of the Purpose Ripple ETF is a significant milestone in their mission to be the top trusted partner for investors seeking to benefit from crypto and digital assets. He added that the company remains committed to providing exposure to transformative digital assets and blockchain technologies through regulated investment vehicles.