Canada is once again at the forefront of digital asset innovation, making history with the continent’s first approved spot XRP Exchange-Traded Fund (ETF). Purpose Investments, a prominent Toronto-based asset manager, is set to list the Purpose XRP ETF on the Toronto Stock Exchange (TSX) tomorrow, June 18, under the ticker XRPP.
This marks a significant milestone, providing investors with regulated access to XRP, the native token of the XRP Ledger, a decentralized blockchain designed for fast and cost-effective cross-border payments. The ETF will be available in CAD-hedged (XRPP), CAD non-hedged (XRPP.B), and US dollar (XRPP.U) units. Crucially, Canadian investors will be able to hold these units in registered accounts such as Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs), offering tax-efficient exposure to the digital asset.
Purpose Investments has a track record of pioneering digital asset products in Canada, having been the first issuer of a spot Bitcoin ETF in the country. This latest offering further solidifies Canada’s position as a leader in establishing a regulated and transparent digital asset ecosystem, even as regulatory uncertainties persist in other major markets.
Meanwhile, in the United States, the legal saga between Ripple Labs and the US Securities and Exchange Commission (SEC) continues to unfold. Both parties have jointly requested the Second Circuit Court to extend the suspension of the agency’s appeal, aiming to avoid further litigation following their previous settlement.
This request comes after Judge Analisa Torres rejected an earlier attempt to amend the final judgment in the case, citing a lack of “exceptional circumstances.” In response, Ripple and the SEC submitted a revised motion to suspend the ongoing appeal. The SEC had originally filed the appeal in October 2024, under then-Chair Gary Gensler, to challenge a court ruling that had largely favored Ripple. While a preliminary agreement was reached in April 2025, leading to a temporary suspension request, the court has yet to grant the latest extension. The SEC has, however, pledged to provide a progress update by August.
While several US-based firms, including Grayscale, are still awaiting the SEC’s decisions on their own XRP ETF proposals, market observers remain optimistic about the prospects of a spot XRP ETF approval in the US this year. Crypto bettors on the decentralized marketplace Polymarket, for instance, indicate an 88% chance of approval.
Despite these significant developments in both Canada and the US, the XRP price saw only a modest increase, up by 1.4% to $2.22 as of press time.
