XRP Gets ETF Backing in Canada as Purpose Launches New Product on TSX
Canadian investment firm Purpose Investments is set to roll out a spot XRP exchange-traded fund (ETF) on June 18, after receiving regulatory clearance from the Ontario Securities Commission (OSC). The ETF, trading under the ticker XRPP, will be listed on the Toronto Stock Exchange (TSX), giving investors direct exposure to XRP through a traditional financial vehicle.
The launch follows Purpose’s legacy as the first issuer of a spot bitcoin ETF globally, reinforcing its role as a front-runner in crypto-linked investment products.
“The OSC’s green light signals further progress in building a secure, regulated digital asset environment in Canada,” said Vlad Tasevski, Chief Innovation Officer at Purpose.
News of the approval sent XRP rallying nearly 7% in 24 hours, outperforming both bitcoin (BTC) and other top digital assets, as investors welcomed the institutional validation.
The Purpose XRP ETF arrives at a time when U.S. regulators remain cautious on similar products, positioning Canada once again at the forefront of crypto ETF adoption.
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