- Canada approves the first XRP ETF, set to launch on June 18 on the Toronto Stock Exchange under the ticker XRPP.
- Purpose Investments’ fund offers direct spot exposure, letting investors access Ripple’s coin without handling crypto directly.
- The move signals growing institutional interest and may push mainstream adoption of digital assets through regulated products.
Big news for XRP holders and crypto investors in Canada — the first XRP exchange-traded fund has officially been approved. Purpose Investments just got the final nod from Canadian regulators, and the fund is set to hit the Toronto Stock Exchange on June 18 under the ticker XRPP.
This is a pretty big deal. Instead of dealing with wallets, keys, or exchanges, investors will now be able to get exposure to XRP directly through a regulated ETF. No fuss, just a traditional-style product tied to Ripple’s coin. It’s a major step in making crypto feel a bit more… normal.
Here’s What We Know About the Launch
According to the latest report, Purpose got the final prospectus receipt from the Ontario Securities Commission (OSC), clearing the way for trading to begin next Wednesday. The ETF will track the spot price of XRP, giving investors a clean, regulated way to ride the Ripple wave—minus the headaches of direct crypto ownership.
Vlad Tasevski, Purpose’s Chief Innovation Officer, didn’t hold back in the announcement either. He called the OSC’s decision a big step for Canada’s digital asset space and promised that Purpose would keep pushing boundaries in the regulated crypto scene.
Why It Matters (And What It Solves)
So what’s the point of all this? Well, for starters, the ETF makes it way easier—and safer—for traditional investors to access XRP. No worrying about passwords or exchanges going bust. Plus, it reduces some of the wild volatility that comes with holding crypto directly, thanks to pro-level custodians and oversight.
This also kinda proves that institutional interest in Ripple’s XRP Ledger is very real. As crypto continues to get more attention from regulators and big money, moves like this one show that digital assets are finding their way into more “normal” portfolios.
What’s Next?
The XRP ETF could be the start of a wave of similar approvals, especially if this launch goes smoothly. With odds of a U.S.-based XRP ETF approval climbing, Canada might’ve just fired the starting pistol.
And yeah, there’s buzz around XRP price targets too. Some folks are eyeing $2.50 in the short term. But whether it pumps or pulls back, one thing’s for sure—this ETF launch is a major moment for crypto adoption in Canada.
