The cryptocurrency investment landscape in Canada is set for a major upgrade as Purpose Investments Inc. prepares to launch the Purpose XRP ETF, with trading expected to begin on June 18, 2025, on the Toronto Stock Exchange (TSX) under the ticker symbol XRPP. This milestone follows the company’s receipt of a final prospectus approval from the Ontario Securities Commission (OSC), marking a pivotal moment in the mainstream adoption of digital assets.
The Purpose XRP ETF will offer investors direct exposure to XRP, the native cryptocurrency of the Ripple network, known for its fast and low-cost cross-border payment solutions. With this launch, Purpose Investments reinforces its position as a pioneer in regulated crypto financial products in North America.
Three Share Classes for Flexible Investment Options
To accommodate a wide range of investor needs, the ETF will be available in three distinct share classes:
- XRPP: Canadian dollar-hedged units
- XRPP.B: Canadian dollar non-hedged units
- XRPP.U: U.S. dollar-denominated units
This structure allows investors to choose the version that best aligns with their currency preferences and risk tolerance. Notably, all share classes are eligible for inclusion in registered accounts such as Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs)—a significant advantage for Canadian investors seeking tax-efficient exposure to digital assets.
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A Statement of Regulatory Confidence
The approval of the Purpose XRP ETF underscores Canada’s growing leadership in creating a regulated digital asset ecosystem. In a statement, Vlad Tasevski, Chief Investment Officer at Purpose Investments, emphasized the importance of this development:
“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.”
This sentiment reflects a broader trend: institutional and retail investors alike are increasingly demanding compliant, transparent, and secure ways to participate in the crypto market—needs that regulated ETFs are uniquely positioned to meet.
Building on a Proven Track Record
Purpose Investments is no stranger to innovation in crypto-based financial products. The firm previously launched successful ETFs for Bitcoin (BTC) and Ethereum (ETH), both of which received regulatory approval in 2024 and have since attracted significant investor interest. The addition of an XRP-focused ETF further diversifies its offerings and strengthens its reputation as a leader in crypto asset management.
While Canada moves forward with confidence, the regulatory environment in the United States remains uncertain. The U.S. Securities and Exchange Commission (SEC) has yet to approve any XRP ETF, despite multiple applications from major financial firms such as ProShares and Franklin Templeton. The SEC has consistently delayed decisions, citing the need for additional review time.
However, market analysts suggest that approvals could come by late 2025, especially if ProShares or Franklin Templeton secure early rulings. Such developments would likely trigger a wave of new product launches across North America.
Why XRP Matters in Today’s Market
XRP stands out in the cryptocurrency space due to its focus on real-world financial infrastructure. Unlike many speculative digital assets, XRP is designed to facilitate fast, low-cost international money transfers—making it particularly attractive to banks and payment providers.
With over 100 financial institutions already using Ripple’s technology, XRP’s utility is well-documented. This fundamental strength makes it a compelling choice for long-term investors looking beyond short-term price movements.
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Frequently Asked Questions (FAQ)
Q: What is the Purpose XRP ETF?
A: The Purpose XRP ETF is an exchange-traded fund that provides investors with direct exposure to XRP, the digital asset used on the Ripple network. It is regulated and traded on the TSX under the ticker XRPP.
Q: When does the Purpose XRP ETF launch?
A: Trading is expected to begin on June 18, 2025, on the Toronto Stock Exchange.
Q: Can I hold the Purpose XRP ETF in my TFSA or RRSP?
A: Yes, all share classes of the ETF—XRPP, XRPP.B, and XRPP.U—are eligible for registered accounts including TFSAs and RRSPs.
Q: Is there an XRP ETF approved in the United States?
A: As of now, no XRP ETF has been approved by the U.S. SEC. Applications from firms like ProShares and Franklin Templeton are still under review.
Q: How is the Purpose XRP ETF different from holding XRP directly?
A: The ETF offers a regulated, custodied investment vehicle without the need to manage private keys or use cryptocurrency exchanges—ideal for traditional investors seeking simplicity and security.
Q: Does the ETF hedge against currency fluctuations?
A: Yes, one of the share classes (XRPP) is Canadian dollar-hedged, helping investors mitigate risks associated with currency volatility.
The Bigger Picture: Canada’s Crypto Advantage
Canada continues to lead in crypto regulation and financial innovation. With multiple crypto ETFs now available—including those for Bitcoin, Ethereum, and now XRP—Canadian investors enjoy some of the most accessible and secure pathways into digital assets globally.
This regulatory clarity not only benefits domestic investors but also positions Canada as a model for other jurisdictions navigating the complexities of digital asset oversight.
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Final Thoughts
The launch of the Purpose XRP ETF on June 18 represents more than just a new investment product—it’s a signal of maturation in the digital asset industry. By combining regulatory compliance with real-world utility, this ETF bridges traditional finance and blockchain innovation.
For investors, it offers a trusted gateway into one of the most widely used cryptocurrencies in global payments. As regulatory frameworks evolve worldwide, products like this will play a crucial role in shaping how people interact with crypto in the years ahead.
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