XRP News Today: Purpose Investments Launches XRP ETF on TSX June 18

Purpose Investments, a prominent asset manager, is poised to launch the Purpose XRP ETF on the Toronto Stock Exchange (TSX) on June 18. This ETF will offer investors direct exposure to XRP, the native token of the XRP Ledger, through a regulated investment vehicle. The ETF will be available under the ticker symbol XRPP and will offer units in CAD-hedged, CAD non-hedged, and USD formats. Additionally, it will be eligible for registered investment accounts such as TFSAs and RRSPs.

The Ontario Securities Commission (OSC) has granted the final prospectus receipt for the fund, signifying a major step forward in the expansion of crypto-linked investment products within regulated markets. This development reflects growing investor interest in regulated access to XRP, which is one of the most traded digital assets by volume globally. The ETF allows investors to gain exposure to XRP without the need to directly hold the asset or manage private keys.

Vlad Tasevski, Chief Innovation Officer at Purpose Investments, emphasized the significance of this launch, stating, "The OSC’s granting of a receipt for the Purpose XRP ETF prospectus reinforces Canada’s global leadership in building a regulated digital asset ecosystem. We’re proud to continue pushing the boundaries of what’s possible in the space by offering investors simple, secure access to the infrastructure powering real-world blockchain adoption."

XRP is designed to facilitate low-cost, fast cross-border payments through its decentralized ledger system. With the Purpose ETF, Canadian investors will have simplified access to XRP through traditional investment channels, further integrating digital assets into mainstream portfolios. This launch follows Purpose’s earlier introduction of the world’s first spot bitcoin ETF in Canada in 2021, demonstrating the company's commitment to expanding its offerings in the digital asset space.

The Purpose XRP ETF will commence trading on the TSX this Wednesday, marking a new milestone in the growth of crypto-linked investment products in regulated markets. This development underscores Canada's leadership in approving spot cryptocurrency ETFs, as other major jurisdictions, including the United States, have yet to approve similar products. The ETF's launch is expected to further integrate digital assets into mainstream portfolios, providing investors with a regulated and secure way to gain exposure to XRP.