XRP News Today: XRP ETF Goes Live in Canada as U.S. Trails Behind in Regulatory Race

As Ripple’s long-running courtroom battle with the SEC continues, Canada has managed to leap ahead. It’s now the first country in the region to give the green light to a spot XRP exchange-traded fund, setting the stage for what could be a major shift in how investors access Ripple’s digital asset.

This moment signals more than just progress for XRP in Canada—it’s a reminder that the U.S. may be falling behind in the race to embrace crypto innovation through regulation.

Canadian regulators have made history by approving the first-ever spot XRP ETF in North America. Toronto-based Purpose Investments is behind the move, with its Purpose XRP ETF (ticker: XRPP) starting to trade on June 18 on the Toronto Stock Exchange.

Canada’s Purpose Investments has launched the Purpose XRP ETF on June 18, offering regulated access to spot XRP through the Toronto Stock Exchange. Source: Purpose Investment via X

The new fund gives investors a simple and secure way to gain exposure to XRP, the digital asset tied to the Ripple ledger, without having to deal with wallets or private keys. The ETF comes in three versions: CAD-hedged (XRPP), CAD non-hedged (XRPP.B), and USD (XRPP.U). It also qualifies for popular investment accounts in Canada like TFSAs and RRSPs.

“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,” said Vlad Tasevski, Chief Innovation Officer at Purpose Investments.

While Canada charges forward with Ripple crypto offerings, the U.S. remains tied up in courtroom delays. At the center of the holdup is the XRP lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC).

The SEC has opened a public comment period on CBOE’s proposal to list the FTI XRP spot ETF, with a final deadline set for late July. Source: Eleanor Terrett via X

On June 16, Ripple and the SEC filed a joint request to extend the suspension of the SEC’s appeal. This appeal, filed back in 2024, was an effort by the SEC under then-Chair Gary Gensler to overturn a court decision that mostly favored Ripple.

Judge Analisa Torres had already denied an earlier motion to amend the final ruling, stating that it didn’t meet the bar for “exceptional circumstances.” Now, both Ripple and the SEC have agreed to pause their legal fight, at least temporarily. The SEC is expected to give a status update by August 15, 2025.

This ongoing legal uncertainty is keeping U.S. XRP ETF applications in limbo, despite growing pressure from investors and asset managers who want access to these products.

Even with the Ripple lawsuit update still unresolved, many investors remain hopeful about XRP. News of Canada’s ETF approval sparked a nearly 8% jump in the XRP price—briefly outperforming Bitcoin and other top coins. Since then, the XRP value has settled around $2.15, as the market waits for its next big catalyst.

XRP was trading at around $2.149, down 3.64% in the last 24 hours at press time. Source: XRP Liquid Index (XRPLX) via Brave New Coin

“The OSC’s approval reinforces Canada’s global leadership in building a regulated digital asset ecosystem,” said Tasevski, highlighting the country’s progressive approach to crypto.

Looking ahead, many are still bullish about the XRP price prediction. If a spot ETF is eventually approved in the U.S., it could trigger another wave of momentum. According to Polymarket, an 88% probability is being placed on the SEC Ripple eventually allowing such a product in 2025.

Purpose Investments isn’t the only player making moves. Evolve ETFs is also launching its own XRP ETF on June 18. This back-to-back rollout signals growing institutional interest in Ripple-related investment products.

Evolve ETFs is set to launch its physically held XRP ETF in Toronto on Wednesday, marking another significant step for XRP investment products in Canada. Source: @sentosumosaba via X

These spot ETFs offer an accessible entry point for both retail and institutional investors looking to engage with the Ripple market. It’s also a strong signal of confidence in the asset’s utility, especially in global payments, where Ripple has been gaining traction. Some reports suggest continued collaboration between Ripple and major institutions, such as the Bank of America.

As Canada steps into the spotlight with regulated crypto products like the XRP ETF, the U.S. remains bogged down in legal uncertainty and delayed decisions. For now, Ripple XRP news in the States is still dominated by the courtroom, not innovation.

The launch of spot ETFs in Canada is a big deal. It shows that digital assets can be part of mainstream finance—when given a clear regulatory path. Whether U.S. regulators follow suit remains to be seen, but pressure is mounting.

Until then, Canada holds the first-mover advantage in the race to bridge traditional finance with Ripple’s blockchain technology.

Stay tuned for more Ripple news and XRP lawsuit updates as the global landscape continues to evolve.