Purpose Launches North America’s First Spot XRP ETF

Purpose Investments has received final approval from the Ontario Securities Commission to launch North America's first spot XRP exchange-traded fund (ETF), set to begin trading on the Toronto Stock Exchange under the ticker XRPP on June 18, 2025. This ETF will allow Canadian investors to gain regulated exposure to XRP, the fourth-largest cryptocurrency, through accounts such as TFSAs and RRSPs. Following the announcement, XRP's price surged over 7% to above $2.30, reflecting strong market optimism and heightened institutional interest. The U.S. SEC, meanwhile, is still considering similar proposals amid ongoing legal negotiations with Ripple Labs. Purpose Investments, which previously launched the world's first spot Bitcoin ETF, will offer the XRP ETF in multiple formats to enhance accessibility. Observers suggest this development could influence U.S. regulators and boost the legitimacy of digital asset investment products worldwide.