THIS is very funny haha, , , , , in the US XRP is being suppressed ehh, , suddenly the neighbor made an XRP ETF 😂
Purpose Investments has received regulatory approval to launch the first XRP ETF in Canada. This new product will offer direct exposure to XRP and will begin trading on June 18.
In addition, the OSC will allow customers to hold this product in registered accounts, so they can pay significantly lower taxes on gains. This regulatory breakthrough is exciting, as the new Prime Minister of Canada is a critic of Bitcoin. Canada Approves XRP ETF Before the US, the XRP ETF is a coveted crypto-based financial instrument, but only one country has truly offered it on the market. The race for approval has encountered many setbacks in the US, however, overall optimism remains high. This week, one company will make Canada the second country to offer this product, as announced in a press release. Purpose Investments, a Toronto-based asset management company, received final regulatory approval to offer the XRP ETF.
The Ontario Securities Commission (OSC), Canada's main regulator, allows users to hold this ETF in registered accounts. Under Canadian law, this means customers can pay significantly lower taxes on these assets. The acceptance of the Purpose XRP ETF prospectus by the OSC strengthens Canada's global leadership in building a regulated digital asset ecosystem. We are proud to continue pushing the boundaries of what is possible in this space, claims Vlad Tasevski, Chief Innovation Officer of Purpose. Over the past few years, Canada has positioned itself as a crypto leader, launching the first crypto ETF in North America four years ago. Purpose Investments also created this asset. Most Canadian institutional investors hold crypto, and the country allowed Coinbase to obtain a registration license last year. However, a leading Bitcoin critic became Prime Minister this March, which could potentially disrupt the country's policies. In other words, this is a very good sign that the OSC approved the XRP ETF in this situation. It is hoped that this will help encourage the SEC to move forward with similar products in the US. BlackRock, the largest asset manager in the US, has yet to file for a spot product based on XRP, but leading analysts believe they will do so soon. The SEC is working hard with Ripple to resolve the ongoing legal dispute, which may help facilitate the approval of the XRP ETF. Currently, it is impossible to predict when approval will be obtained, but the US will be the third country in the world to offer it at the earliest. Canada and Brazil may remind the US that they need to catch up to stay at the forefront of the market.
