Purpose Investments receives regulatory nod to launch spot XRP ETF

Jun 16, 2025 at 5:31 PM UTC

Edited by Jayson Derrick

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Purpose Investments receives regulatory nod to launch spot XRP ETF

Purpose Investments, an asset manager with over $24 billion in assets under management, has announced the launch of its Purpose XRP exchange-traded fund on June 18, 2025.

The Canada-regulated firm announced on Monday, June 16 that it had secured the final approval for its Purpose XRP ETF prospectus. With this approval Purpose can now unveil its Ripple (XRP) ETF for public trading on the Toronto Stock Exchange, a milestone that will see the asset manager launch the fund under the ticker XRPP.

“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.

According to the announcement, the spot XRP ETF will go live on the TSX on Wednesday, June 18, 2025.

The fund will offer direct exposure to spot XRP, with availability in Canadian dollars, CAD-hedged under the ticker XRPP and CAD non-hedged under XRPP.B. Investors can also access U.S. dollar units under the ticker XRPP.U.

Users will be able to hold the ETFs in registered accounts, including Tax-Free Savings Accounts and Registered Retirement Savings Plans, both widely used savings tools in Canada.

Purpose Investments’ announcement that its on the verge of launching the XRP ETF comes several months after the company filed its prospectus for approval. Launch on the Toronto Stock Exchange will add to the rollout of a spot XRP ETF in Brazil earlier in the year.

While these are notable milestones for altcoin-based ETFs, most of the anticipation remains focused on developments in the United States.

The U.S. Securities and Exchange Commission approved spot Bitcoin (BTC) and Ethereum (ETH) ETFs in 2024.

However, the regulator has yet to greenlight any other altcoin-related exchange-traded fund. In recent weeks, though, the agency has taken steps that suggest the likelihood of XRP, Solana, and Litecoin ETFs reaching the U.S. market in 2025 has significantly increased.