Canada continues to expand the range of regulated crypto products. Purpose Investments has received approval from the Ontario Securities Commission (OSC) to launch the country's first spot fund based on $XRP — Purpose XRP ETF.
Trading will begin on June 18, 2025, on the Toronto Stock Exchange (TSX), opening a new access tool to the Ripple asset in a regulated environment.
The fund will be available in several currency variants
Purpose will offer investors three versions of the fund:
XRPP is hedged against the Canadian dollar exchange rate.
XRPP.B is the unhedged version in CAD.
XRPP.U is denominated in US dollars.
In all modifications, market participants will be able to invest in XRP directly, without managing their own wallets or keys.
#etf is available for placement within registered Canadian investment accounts — including TFSA and RRSP — which opens up additional tax privileges.
Canada strengthens its position in the global crypto market
Purpose considers the launch of a new product as part of a systematic effort to develop digital infrastructure at the institutional level in the country. According to Vlad Tasevski, the company's director of innovation:
"The OSC's approval once again emphasizes that Canada is taking a leading position in creating a regulated infrastructure for digital assets. We strive to launch safe and understandable products that bridge traditional finance and blockchain."
Purpose is already actively developing a line of cryptocurrency funds
Before launching the XRP ETF, Purpose successfully brought spot ETFs on Bitcoin and Ethereum to market, becoming one of the key players in crypto funds in North America.
The Purpose XRP ETF fund relies on the XRP Ledger network, which is known for low transaction costs and high speed of cross-border settlements — Ripple technology is actively used in payment systems.
What's next?
The launch of the XRP ETF further strengthens Canada's reputation as one of the most liberal and advanced jurisdictions in the world for creating institutional crypto instruments.
While legal disputes over #Ripple and the status of XRP are ongoing in the US, Canada is effectively forming an alternative model for regulating and allowing digital assets on public markets.
