Purpose Investments has received final regulatory approval to launch Canada’s first spot XRP ETF on the Toronto Stock Exchange (TSX) on June 18, 2025. The fund, called the Purpose XRP ETF and trading under the ticker XRPP, will provide direct, transparent exposure to spot XRP, operating on the XRP Ledger known for fast and low-cost cross-border payments.
The ETF will be available in three unit types: CAD-hedged (XRPP), CAD non-hedged (XRPP.B), and USD (XRPP.U). All units will be eligible for registered accounts such as TFSAs and RRSPs, providing Canadian investors with tax-efficient access to digital assets through a regulated and familiar investment vehicle. The Purpose XRP ETF aims to eliminate custody and management barriers, facilitating smoother institutional and retail market participation.
Purpose Investments has been a pioneer in the Canadian crypto ETF market, previously launching the region’s first Bitcoin and Ethereum ETFs. With over $24 billion in assets under management, Purpose continues expanding its digital asset product lineup, reinforcing Canada’s leadership in regulated crypto investing. The ETF launch comes amid rising institutional demand for alternative digital assets beyond Bitcoin and Ethereum, with XRP tempting investors due to its utility in blockchain-based global finance.
The regulatory approval by the Ontario Securities Commission (OSC) highlights strong confidence in Purpose’s compliance and innovation approach despite recent political skepticism about Bitcoin in Canada. This breakthrough positions Canada ahead of the U.S., where XRP ETF approvals have faced delays. Furthermore, it may encourage U.S. regulators, such as the SEC, to consider similar crypto products, with market participants anticipating imminent filings from major asset managers like BlackRock for spot XRP ETFs.