Purpose Investments Inc. has received a final prospectus receipt for its new product, the Purpose XRP ETF, and is expected to begin trading on the Toronto Stock Exchange (TSX) on June 18, under the ticker symbol XRPP.
According to the press release, this new ETH will give investors direct exposure to XRP. The ETF will come in three versions: a Canadian dollar-hedged unit (XRPP), a Canadian dollar non-hedged unit (XRPP.B), and a U.S. dollar unit (XRPP.U). All versions can be held in registered accounts like Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs).