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XRP ETFs Ready to Trigger Capital Wave as Canada Opens Crypto Gates
XRP ETFs Coming to TSX—Two Issuers, One Date, Major Market Shift Coming Soon
A Canadian firm announced that it has filed a final prospectus to launch the Evolve XRP ETF on the Toronto Stock Exchange (TSX) on June 16. This XRP exchange-traded fund (ETF) is expected to trade under the XRP (CAD Unhedged) and XRP.U (USD) symbols on June 18, pending final TSX approval.
Regarding the fund tracked by the XRP symbol, which shares the same name as the cryptocurrency, the asset management firm made the following statement:
The investment objective of XRP is to provide a secure and easy way to hold the cryptocurrency in a brokerage account by maintaining nearly all of its assets in physical XRP.
The Chief Investment Officer and Chief Operating Officer stated: "XRP is designed for the real world by providing fast, low-cost cross-border payments and decentralized exchange functionality."
Net asset value will be based on the CME CF XRP-Dollar Reference Rate published daily. The fund will not use derivatives, make regular distributions, or hedge against foreign currency risk. In Canada, filing a final prospectus allows such XRP funds to be publicly listed and traded. This contrasts with the U.S. Securities and Exchange Commission (SEC), which has postponed or rejected similar crypto ETF applications. The Canadian framework provides a more accessible regulatory pathway by offering investors a secure, brokerage-based channel to gain exposure to digital assets like XRP.
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