Purpose Investments will launch a spot XRP exchange-traded fund (ETF) in Canada this week, following regulatory approval. The ETF will provide investors access to the fourth-largest cryptocurrency by market cap through traditional investment accounts.
The ETF will begin trading on the Toronto Stock Exchange on Wednesday, June 18, under the ticker symbol XRPP. This follows the Ontario Securities Commission’s (OSC) final prospectus receipt for the fund, as confirmed in a Monday press release.
Following the announcement, XRP’s price rose nearly 7% in the past 24 hours, outperforming both Bitcoin and the broader CoinDesk 20 Index.
“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,” said Vlad Tasevski, Chief Innovation Officer at Purpose Investments.
Purpose Investments previously launched the world’s first spot Bitcoin ETF in Canada in 2021, ahead of similar approvals in the U.S.