TLDR
- Purpose Investments has launched the Purpose XRP ETF on the Toronto Stock Exchange.
- The ETF trades under the ticker XRPP and offers direct spot exposure to Ripple.
- This is the first XRP spot ETF in Canada and the third to launch globally.
- The fund is available in CAD-hedged, CAD non-hedged, and USD-denominated units.
- Regulatory approval was secured on June 16 and the ETF went live on June 18.
Purpose Investments has officially launched the Purpose XRP ETF (TSX: XRPP) on the Toronto Stock Exchange. The ETF began trading on June 18, following final regulatory approval secured on June 16. This product offers direct spot exposure to XRP, the native token of the XRP Ledger.
The fund marks the first spot XRP ETF in Canada and the third globally, joining offerings in Switzerland and Brazil. Purpose made the ETF available in CAD-hedged (XRPP), CAD non-hedged (XRPP.B), and USD units (XRPP.U). This variety gives investors options based on currency preference and market strategy.
The launch represents a significant addition to Purpose’s digital asset lineup, aimed at expanding access to cryptocurrencies through regulated channels. The ETF is designed for investors seeking efficient exposure to XRP within traditional markets. It also reflects growing interest in altcoin-based ETFs globally.
XRP ETF Becomes Canada’s First With Spot Exposure
The purpose of structuring the ETF is to hold physical XRP, offering investors unleveraged exposure to the token’s market value. This design provides real-time pricing without using futures or derivatives. The ETF allows for easy access through standard brokerage platforms.
It supports transparent valuation while maintaining compliance with Canadian regulatory standards. Additionally, the ETF enhances accessibility by removing complexities linked to crypto custody. Purpose emphasized that investors can trade XRPP like any equity listed on TSX.
The ETF adds to Purpose’s suite of digital asset products, including Bitcoin and Ethereum spot ETFs. Its launch strengthens Canada’s role in regulated crypto investment products. XRP now gains a broader footprint within institutional and retail markets.
Global Market Expands With Third XRP Spot ETF
The Purpose XRP ETF joins 21Shares’ XRP ETP in Switzerland and Hashdex’s version in Brazil. All three funds provide spot market exposure. This shows a growing trend among asset managers to meet demand for regulated altcoin investment vehicles.
The launch expands global interest in XRPL-related assets amid increasing altcoin adoption. The purpose is to capture rising momentum in international crypto markets. XRPP’s addition aligns with Purpose’s strategy to offer diversified crypto exposure.
