XRP ETF To Debut In Canada, Setting The Stage For US Showdown

Purpose Investments Inc. has secured final regulatory approval from the Ontario Securities Commission (OSC) to launch the Purpose ETF, which will begin trading on the Toronto Stock Exchange (TSX) on Wednesday, June 18, under the ticker XRPP.

This marks Canada's first spot XRP exchange-traded fund, offering investors direct exposure to XRP XRP/USD, the native token of Ripple, a blockchain designed for fast and cost-effective cross-border payments.

The ETF represents the latest addition to Purpose's established suite of digital asset offerings, following its pioneering spot Bitcoin BTC/USD and Solana SOL/USD ETFs.

Vlad Tasevski, chief innovation officer at Purpose, stated, "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."

The Purpose XRP ETF will be available in three formats: CAD-hedged (XRPP), CAD non-hedged (XRPP.B), and US dollar (XRPP.U) units.

Investors can hold the ETF in registered accounts like Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs), offering tax advantages and simplifying access to XRP without managing private wallets.

The fund's structure tracks XRP's price movements, minus management fees, providing a straightforward investment option for both retail and institutional investors.

Also Read: Franklin Templeton Exec: Europe Stuck In The Slow Lane Of Crypto Regulation

Canada's stance on crypto ETFs contrasts with slower regulatory progress in other regions, particularly the United States, where XRP ETF applications remain under review.

Several firms have pursued XRP and other cryptocurrency ETFs, particularly in the U.S., though none have yet been approved.

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In January 2025, European asset manager CoinShares filed for an XRP ETF, though details on its listing venue and asset size remain undisclosed.

Concurrently, Bitwise submitted an XRP ETF application to the U.S. Securities and Exchange Commission (SEC), with a decision expected in June 2025.

ProShares also filed for an XRP ETF, requesting a final SEC decision by June 25, 2025, after which the SEC cannot delay further.

After the SEC approved spot Bitcoin ETFs in January and later Ethereum ETFs in 2024, former Chair Gary Gensler resigned at the start of 2025. Since then, the regulatory climate under President Donald Trump has become more crypto‑friendly, prompting new filings such as a combined Bitcoin‑Ether ETF.

Ripple's legal victory against the SEC, including a $50 million settlement in March 2025 (despite a temporary rejection of a joint motion in May), has further fueled optimism for U.S. XRP ETFs.

Research by Kaiko indicates XRP has more ETF filings than other altcoins like Solana, Dogecoin DOGE/USD, and Litecoin LTC/USD, reflecting strong market interest.

Additionally, Grayscale's XRP Trust (XRX) offers indirect XRP exposure in the U.S., and there is speculation that it may convert to an ETF if regulatory hurdles clear.

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