Launch of Purpose's XRP ETF in Toronto – A legal cryptocurrency investment opportunity in Canada
The Purpose XRP ETF officially launched on June 18 on the Toronto Stock Exchange
On June 18, 2025, Purpose's XRP ETF (code XRPP) officially trades on the Toronto Stock Exchange, ushering in a new era for legal cryptocurrency markets in Canada. This is the first spot XRP ETF in the country, providing an opportunity to diversify cryptocurrency portfolios through traditional channels without needing to own a cryptocurrency wallet or participate in decentralized exchanges. This trend reflects the increasing acceptance from regulators, promoting the development of legitimate digital assets.
Versions of the Purpose XRP ETF and participation costs
The Purpose XRP ETF is available in 3 forms: CAD-hedged (XRPP), CAD unhedged (XRPP.B), and USD-denominated (XRPP.U). The overall management fee is only 0.69%, with total costs not exceeding 0.89%, ensuring maximum benefits for investors. Investors can buy and hold ETFs in popular accounts like Tax-Free Savings Accounts (TFSA) or Registered Retirement Savings Plans (RRSP), making it easy to access cryptocurrency without needing to use digital wallets or illegal trading platforms.
Invest in Purpose's XRP ETF – Take action today
To invest in the Purpose XRP ETF, traders need access to the Toronto Stock Exchange (TSX). Opening a brokerage account with suitable Canadian financial institutions or online banks is the first step. These platforms allow buying and selling ETFs like regular stocks. Once the account is set up, investors just need to search by the code XRPP, XRPP.B, or XRPP.U according to their purpose, risk, and desired currency type.
Market orders or limit orders can be placed through any brokerage with access to the TSX. ETFs can be held in tax-advantaged accounts like TFSA or RRSP to optimize tax benefits, suitable for both individual and institutional investors.
Global context and potential of the XRP ETF
The launch of the XRP ETF in Canada comes amid Brazil also launching its XRP ETF earlier this year. In the United States, the Securities and Exchange Commission (SEC) has yet to approve any XRP ETFs. However, the momentum from Canada could prompt other countries, especially the United States, to quickly establish cryptocurrency-based ETFs. This trend demonstrates the potential scalability of XRP's value in traditional trading platforms while reinforcing the cryptocurrency's position in the global financial ecosystem.
Source: https://tintucbitcoin.com/canada-ra-mat-etf-xrp-giao-ngay-dau-tien/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news in the cryptocurrency market and not miss any important information!
