- Purpose XRP ETF receives final approval from Ontario Securities Commission, set to trade under the ticker XRPP starting Wednesday, June 18.
- The ETF provides direct exposure to spot XRP, with CAD-hedged, non-hedged, and USD units available for flexible investor access.
- Investors can hold the Purpose XRP ETF in registered accounts, including TFSAs and RRSPs, enabling tax-efficient crypto investing in Canada.
Purpose XRP ETF will officially start trading on the Toronto Stock Exchange (TSX) on Wednesday, June 18, under the ticker XRPP. This follows final approval from the Ontario Securities Commission (OSC), allowing investors to gain direct exposure to XRP in a regulated format.
OSC Gives Green Light to XRP Investment Product
Purpose Investments Inc. confirmed that it has received the final prospectus receipt for its XRP ETF. This move marks another step in giving Canadian investors easier access to digital assets through traditional financial platforms.
Vlad Tasevski, Chief Innovation Officer at Purpose Investments, called the approval a big step for Canada’s growing crypto investment space. “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,” he said.
He added, “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.”
The fund is designed to give investors spot exposure to XRP — the token used on the XRP Ledger, a blockchain created for fast and affordable cross-border payments.
Multiple Ticker Options and Account Compatibility
Investors will be able to access the ETF in three formats of XRPP (CAD Hedged), XRPP.B (CAD Major) and XRPP.U (USD Denominated). Providing investors the opportunity to select which version will suit their currency needs and market outlook best.
The ETF has also been structured to be eligible to hold in registered accounts such as TFSAs and RRSPs to encourage investor access and render easier for individuals to embed XRP exposure in their long-term investment portfolio or strategy. With three different access points, Purpose appeals to a wider investor base.
Purpose Expands Its Crypto Investment Lineup
This launch continues Purpose’s efforts to bring regulated, user-friendly crypto products to the Canadian market. The company already offers several digital asset ETFs and sees this XRP-focused product as a natural next step.
With XRP being one of the most established digital assets in global payments, the ETF gives investors a simple way to gain exposure without needing to manage wallets or private keys. The trading debut on June 18 is expected to draw attention from both retail and institutional investors.
