XRP News Today: Purpose Investments Launches First Spot XRP ETF in Canada

Purpose Investments has secured final approval from the Ontario Securities Commission (OSC) to introduce the first spot XRP Exchange-Traded Fund (ETF) in Canada. The Purpose XRP ETF is set to commence trading on the Toronto Stock Exchange (TSX) on June 18, 2025, under the tickers XRPP (CAD-hedged), XRPP.B (CAD), and XRPP.U (USD). This milestone not only signifies the first XRP ETF in Canada but also underscores the country's dedication to fostering regulated innovation in blockchain-based investment products.

The Purpose XRP ETF provides direct exposure to XRP, the native token of the XRP Ledger, eliminating the need for investors to self-custody or engage in unregulated markets. This ETF is tailored to meet the requirements of both retail and institutional investors seeking secure and transparent crypto exposure through conventional financial platforms. The ETF is also eligible for Canada’s registered investment accounts, including Tax-Free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSP), thereby enhancing accessibility while upholding high compliance standards—a crucial element in the widespread adoption of crypto products.

Vlad Tasevski, Chief Innovation Officer at Purpose Investments, emphasized the significance of this approval, stating, “The OSC’s approval of the Purpose XRP ETF underscores Canada’s leadership in building a regulated global digital asset ecosystem. We’re proud to offer secure and easy access to real-world blockchain infrastructure.” This launch is not Purpose’s first foray into crypto ETFs; the firm has previously introduced Bitcoin and Ethereum ETFs, making the XRP ETF the third in their series of regulated digital asset offerings. Given XRP's utility in cross-border payments and real-time settlement, the XRPP fund is poised to attract investors looking for diversified blockchain exposure.

Purpose Investments, led by CEO and entrepreneur Som Seif, operates under the parent company Purpose Unlimited and manages over $24 billion in assets. The firm is renowned for bridging the gap between traditional wealth management and cutting-edge fintech solutions, delivering investment tools that prioritize innovation, transparency, and customer trust. This launch is seen as a pivotal moment in Canada’s digital finance evolution, reinforcing its role as a global leader in cryptocurrency regulation and institutional integration.