Is Canada Warming Up to Crypto? Recent XRP ETF Listings Suggest

Canada has just approved the first XRP spot ETF, and it’s making waves in the crypto space. Purpose Investments, a Canadian asset manager, received final regulatory approval to launch the Purpose XRP ETF. This fund will give investors direct exposure to XRP, one of the world’s most traded cryptocurrencies.

Starting June 18, the ETF will trade on the Toronto Stock Exchange with multiple tickers for different currency options. This could mark a major turning point for how digital assets are treated in regulated markets.

Key Takeaways

Canada just approved an XRP ETF, making it easier for investors to get into crypto through a trusted, regulated option.

The ETF will be listed on the Toronto Stock Exchange, letting Canadians invest in XRP using regular accounts like RRSPs and TFSAs.

This move puts Canada ahead of the U.S., where XRP ETFs are still waiting on approval, showing Canada’s growing support for crypto.

Purpose XRP ETF Launch: A Step Toward Mainstream Access

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Purpose Investments’ new XRP ETF offers a more regulated and accessible way for Canadians to invest in XRP. It will be listed on the Toronto Stock Exchange with three tickers: XRPP (CAD-hedged), XRPP.B (CAD), and XRPP.U (USD). The ETF allows investors to gain exposure to XRP without needing to buy or store the cryptocurrency directly. This is particularly useful for those who are interested in crypto but prefer to go through a traditional and regulated channel.

The ETF will also be eligible for registered investment accounts in Canada, including TFSAs and RRSPs. That makes it even easier for everyday investors to include digital assets in their portfolios. According to Purpose Investments, the fund is designed to be long-term, holding XRP and giving investors the opportunity to benefit from its growth over time.

This approval shows how Canada is trying to make digital assets more accessible while keeping things secure. The move also gives confidence to traditional investors who may have been hesitant to jump into crypto. Purpose Investments’ leadership believes the ETF could help bridge the gap between traditional finance and the fast-changing world of digital assets.

Read more: XRP ETF Speculation: How Analysis Predicts XRP Price After ETF

Comparing Global XRP ETF Activity: Canada vs. The Rest

While Canada has moved forward with the Purpose XRP ETF, other countries are still catching up. In the United States, multiple financial firms have applied for XRP ETFs but are still waiting for approval. Grayscale, Franklin Templeton, Bitwise, and ProShares have all submitted proposals to the U.S. Securities and Exchange Commission. Most of these are still under review, with the earliest possible decisions expected later this year.

The SEC has delayed several of these filings, requesting more public feedback and time for analysis. Bloomberg ETF analyst James Seyffart says that while these delays are normal, a quick approval would be unlikely. Meanwhile, the legal situation surrounding Ripple in the U.S. is still ongoing. Ripple has settled some parts of its legal dispute with the SEC but continues to work on lifting restrictions related to XRP sales.

European asset managers are also showing interest. CoinShares filed for an XRP ETF earlier this year, but details on where it will be listed are still unclear. The rise in filings from different regions shows a growing interest in XRP as a regulated investment product. According to research by Kaiko, XRP has more ETF filings than other popular altcoins like Solana and Dogecoin.

In this global race, Canada is clearly taking the lead. The Purpose XRP ETF is not just another investment option; it represents progress toward recognizing digital assets within traditional financial systems. It could also put pressure on regulators in other countries to act faster and offer similar products.

Read more: XRP Prediction: Ripple (XRP) Price Forecasts for 2025-2050

What This Means for Investors and the Broader Market

The launch of the Purpose XRP ETF in Canada is likely to have an impact beyond just one country. For investors, it offers a new way to gain exposure to XRP without dealing with crypto wallets or exchanges. It brings the ease of investing in crypto through a trusted and regulated structure. This can help reduce the learning curve and increase comfort for traditional investors.

For the broader crypto market, this approval adds to a trend of growing acceptance. With XRP ETFs gaining attention, there may be more demand for similar products for other cryptocurrencies. This could encourage other asset managers to follow suit, expanding the variety of crypto-related investment options.

It may also bring more stability to the XRP market. Institutional investments through ETFs are usually longer-term and less speculative. This could reduce price swings and bring more maturity to XRP trading.

Canada’s early approval also sends a message to policymakers and regulators in other parts of the world. It suggests that it’s possible to support crypto innovation while maintaining investor protection. If this model proves successful, it could serve as a template for other countries considering similar moves.

For now, Canadian investors will be the first to benefit from this new XRP investment option. Whether this leads to more widespread adoption of crypto ETFs remains to be seen, but it is definitely a step in that direction.

Read more: XRP (Ripple) Price Prediction 2025

Conclusion

Canada’s approval of the Purpose XRP ETF is a major development in the crypto investment world. It offers a regulated, simple way for people to invest in XRP and brings digital assets one step closer to mainstream acceptance. As the global interest in crypto ETFs grows, other countries may soon follow Canada's lead.

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FAQ

What is the Purpose XRP ETF?

It’s a Canadian fund that gives investors direct exposure to XRP without needing to buy or manage the crypto themselves.

Why is this ETF important?

It shows growing acceptance of digital assets in traditional finance and makes it easier for more people to invest in XRP.

Can I invest in this ETF outside of Canada?

Right now, it’s only available on the Toronto Stock Exchange. Investors outside Canada would need access to Canadian markets to buy it.

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