Spot XRP ETF Launches in Canada This Week Following Regulatory Approval
Purpose Investments is launching a spot XRP exchange-traded fund (ETF) in Canada after receiving regulatory approval. The ETF will begin trading on the Toronto Stock Exchange on June 18 under the ticker XRPP.
- The Ontario Securities Commission (OSC) approved the final prospectus for the ETF.
- XRP's price increased nearly 7% within 24 hours of the announcement, surpassing bitcoin and the CoinDesk 20 Index.
- This launch reinforces Canada's status in developing a regulated digital asset ecosystem.
- Purpose Investments previously launched the world’s first spot bitcoin ETF in 2021.