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Purpose Investments has received final approval to launch its new Purpose XRP ETF on the Toronto Stock Exchange with trading set to begin on June 18 under the ticker XRPP. This marks another major milestone for crypto adoption in Canada.
The ETF offers direct exposure to XRP and will be available in three versions XRPP for Canadian dollar hedged XRPP.B for Canadian dollar non-hedged and XRPP.U for US dollar. All units can be held in registered accounts such as TFSAs and RRSPs giving investors flexible access to one of the largest digital assets by market cap.
Purpose already leads with Bitcoin and Ethereum ETFs and this new launch further strengthens its position. The OSC’s green light showcases Canada’s progress in building a regulated crypto investment space while US regulators including the SEC continue to delay decisions on similar products. ProShares and Franklin Templeton are among the hopefuls waiting for SEC approval.
