Canada’s Purpose Investments to Launch Spot XRP ETF on June 18

Purpose Investments, the Canadian asset manager behind the world’s first spot bitcoin ETF, is preparing to debut a new exchange-traded fund offering direct exposure to XRP. The Purpose XRP ETF is slated to begin trading on the Toronto Stock Exchange (TSX) under the ticker XRPP starting Wednesday, June 18.

The launch follows the Ontario Securities Commission’s (OSC) approval of the final prospectus, marking a major regulatory milestone for XRP-based investment products in North America.

“The OSC’s approval of the Purpose XRP ETF further strengthens Canada’s position as a global leader in regulated digital asset innovation,” said Vlad Tasevski, Chief Innovation Officer at Purpose Investments, in a press statement.

The ETF will allow Canadian investors to gain exposure to XRP — currently the fourth-largest cryptocurrency by market capitalization — through traditional brokerage accounts, without needing to hold the asset directly.

Following the announcement, XRP surged nearly 7%, outperforming both bitcoin (BTC) and the broader CoinDesk 20 Index in the past 24 hours.

Purpose Investments has a track record of pioneering digital asset ETFs. In 2021, it launched the world’s first spot bitcoin ETF — a landmark event that preceded similar approvals in the U.S. by years.