- Canada approves first spot XRP ETF, boosting regulated crypto investment access.
- Purpose’s XRP ETF offers CAD, USD options with tax benefits.
- OSC greenlights Purpose fund amid global crypto market uncertainty and tension.
Purpose Investments has received final approval to launch Canada’s first spot XRP exchange-traded fund (ETF). The new fund will be listed on Toronto Stock Exchange on June 18, 2025. It will issue three ticker symbols, including XRPP (CAD-hedged), XRPP.B (CAD), and XRPP.U (USD). The fund allows its investors to have direct exposure to the XRP, the native currency of the XRP Ledger, as a spot exposure.
Purpose Launches XRP ETF in USD and CAD-Hedged Versions
XRP Ledger is a decentralized blockchain payment network, which has been designed to make cross-border payments very fast and affordable. It is set up to facilitate financial applications and worldwide money transfers. Investors will now have access to XRP through this ETF without the need to operate personal wallets or even digital exchanges.
The fund will also be in both Canadian and U.S. dollar form, with the CAD-hedged option being offered to investors that would require protection against currency risks. Notably, the ETF will get registered accounts such as Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs).
This Ontario Securities Commission (OSC) registration assures the international digital asset investment with Canada as the global leader under regulated investments. Vlad Tasevski, Chief Innovation Officer at Purpose Investments, said the move signals that Canada is ready to lead the world at safe and transparent financial innovation. He declared that Purpose is happy to provide easy and safe access to real-world blockchain implementation.
This announcement is made at a time when the crypto market in the world has been crawling at slow pace. Currently, XRP is trading at $2.21, and has not experienced a significant price rise. There is uncertainty in the market caused by the international tensions that have been experienced lately, especially the Iran-Israel conflict. However, the ETF launch continues to be regarded as the big step towards increasing crypto access to Canadian investors.
SEC Yet to Approve Spot XRP ETFs
While Canada leads with this XRP ETF, other countries are also exploring similar products. In April 2025, Hashdex and Genial Investimentos introduced the first spot XRP ETF in the world in Brazil. The code on the B3 Stock Exchange is XRPH11, and it observes the Nasdaq XRP Reference Price Index. The Brazilian ETF allocates no less than 95% of its assets on XRP, which provides great access to this asset.
Interestingly, no XRP ETF could be approved in the United States even though Ripple is located there. Such companies as Grayscale and Bitwise have filed proposals on XRP-based product. Nevertheless, spot ETFs for XRP have not been approved by the U.S. Securities and Exchange Commission (SEC) yet.
Such a case illustrates the idea of the readiness of Canada and Brazil to accept controlled crypto products. Both nations are making efforts to offer the mainstream access to digital assets with transparent policies. In the meantime, the U.S. is going through proposals in a complicated regulatory framework.
In short, Purpose Investments’ new XRP ETF offers a regulated, secure, and tax-efficient approach to investing in one of the most popular cryptocurrencies in the world today, thereby, providing Canadians with such options. It is a massive step towards the combination of traditional finance and blockchain innovation. Within the global demand on crypto ETFs, the Canadian leading position on regulating digital assets becomes even more evident.
