XRP Rises as Canada Approves Spot ETF for Toronto Stock Exchange Listing

Purpose Investments has received regulatory approval to launch a spot XRP exchange-traded fund (ETF) in Canada, with trading scheduled to begin on June 18 on the Toronto Stock Exchange (TSX). The fund, listed under the ticker XRPP, will provide direct exposure to XRP through a regulated investment vehicle.

The Ontario Securities Commission (OSC) granted the final prospectus receipt for the fund, Purpose announced Monday. The ETF will offer units in CAD-hedged, CAD non-hedged, and USD formats, and will be eligible for registered investment accounts such as TFSAs and RRSPs.

XRP Price Rises Following Approval

The launch follows Purpose’s earlier introduction of the world’s first spot bitcoin ETF in Canada in 2021. XRP’s price rose nearly 7% in the 24 hours following the announcement, outperforming Bitcoin. The move reflects investor optimism around regulated access to the token, which remains one of the most traded digital assets by volume globally.

The ETF provides investors with a way to gain exposure to XRP, the native token of the XRP Ledger, without needing to directly hold the asset or manage private keys.

“The OSC’s granting of a receipt for the Purpose XRP ETF prospectus reinforces Canada’s global leadership in building a regulated digital asset ecosystem,” said Vlad Tasevski, Chief Innovation Officer at Purpose Investments.

“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.”

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Canada remains ahead of other major jurisdictions, including the United States, in approving spot cryptocurrency ETFs. While U.S. regulators have yet to approve a spot XRP product, Canada continues to expand its regulated offerings in the digital asset space.

ETF Offers Access to Cross-Border Payment Token

XRP is designed to support low-cost, fast cross-border payments through its decentralized ledger system. With the Purpose ETF, Canadian investors will have simplified access to XRP through traditional investment channels, further integrating digital assets into mainstream portfolios.

The fund will begin trading on the TSX this Wednesday, marking a new milestone in the growth of crypto-linked investment products in regulated markets.