- Purpose XRP ETF (XRPP) offers CAD-hedged, non-hedged, and USD units, accessible through TFSAs and RRSPs.
- The ETF provides direct XRP exposure without the need for wallets or private custody services.
- Canada leads altcoin ETF adoption as the U.S. delays similar XRP, Solana, and Litecoin fund approvals.
Purpose Investments has received the final prospectus receipt to launch Canada’s first spot XRP exchange-traded fund (ETF). The approval, granted by the Ontario Securities Commission (OSC), clears the path for the Purpose XRP ETF to begin trading on the Toronto Stock Exchange (TSX) on June 18, 2025.
The asset manager confirmed the development through a blog post published on June 16, describing the move as a major move in digital asset investing. The ETF will trade under the ticker symbol XRPP and provide direct exposure to XRP, the native token of the XRP Ledger.
XRP ETF to Begin Trading June 18
According to Purpose, the ETF will be available in three versions. These include CAD-hedged units (XRPP), CAD non-hedged units (XRPP.B), and U.S. dollar units (XRPP.U). Investors will be able to hold all units within registered Canadian accounts such as Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs).
The asset manager stated that the fund is designed to directly hold XRP and track its market price. This approach removes the need for investors to manage digital wallets or custody services. The product offers a regulated investment way that aligns with current compliance requirements in Canada.
The firm has previously introduced similar ETFs, including the first Bitcoin and Ethereum spot ETFs approved in the country. The XRP ETF is its latest expansion in regulated digital asset access for retail and institutional markets.
Regulatory Approval Adds to Momentum in Altcoin ETF Developments
Purpose first filed for the XRP ETF several months before receiving the green light on June 16. According to the firm, the OSC’s decision supports the ongoing growth of Canada’s regulated digital finance ecosystem.
Vlad Tasevski, Chief Innovation Officer at Purpose, emphasized that this development shows Canada’s leadership in crypto-based financial products. The XRP ETF launch follows a similar product rollout in Brazil earlier in the year.
However, most regulatory progress remains concentrated in North America. The United States approved spot Bitcoin and Ethereum ETFs in 2024 but has yet to approve any other altcoin-based ETFs.
Recent activity in the U.S. Securities and Exchange Commission suggests potential movement in XRP, Solana, and Litecoin ETF applications. Industry observers remain attentive as Purpose prepares to list its XRP fund on Canada’s primary exchange.
Fund Designed for Broader Exposure to XRP
The Purpose XRP ETF will allow investors to access XRP’s performance without holding the asset directly. The XRP Ledger, which supports the asset, is known for enabling fast and low-cost cross-border payments. This infrastructure makes the fund suitable for portfolios focused on blockchain-based financial systems.
According to Purpose, the ETF was created to simplify participation in XRP through a secure and transparent framework. With over $24 billion in assets under management, the firm structured the product to meet regulatory standards and support capital appreciation.
Purpose Investments confirmed the XRPP listing date as June 18, with availability in both Canadian and U.S. currencies. The ETF will be the first of its kind in Canada to offer spot exposure to XRP, continuing the firm’s expansion in digital asset offerings.
