🚨Purpose XRP ETF Launches On The TSX🚨
In a press release, Purpose Investments announced the launch of the Purpose XRP ETF, which is now trading on the TSX under the ticker ‘XRPP.’ The asset manager noted that the ETF will offer spot exposure to XRP, which is the native token of the XRP Ledger (XRPL) and has ties to Ripple.
Meanwhile, this is the first spot XRP fund to launch in Canada and the third to launch worldwide after 21Shares XRP ETP in Switzerland and Hashdex’s ETF in Brazil. The ETF will be available in CAD-hedged (TSX: XRPP), CAD non-hedged (TSX: XRPP.B), and US dollar (TSX: XRPP.U) units.
As CoinGape reported earlier, Purpose Investments secured the final regulatory approval to launch the fund on June 16. Following the approval, the asset manager revealed that the fund would likely go live on June 18, which has now happened.
Commenting on the launch, Vlad Tasevski, Purpse Investments Chief Innovation Officer, said,
Canadian investors continue to look for simple, safe, and transparent ways to access the digital asset market, and the XRP ETF has been one of the most requested digital assets in our lineup, thanks to XRP’s design for fast, low-cost global payments
The release also stated that XRP stands out in a crowded digital asset landscape due to its real-world use case and growing interest.
Amid this announcement, the XRP price is down in the last 24 hours. CoinMarketCap data shows that the altcoin is currently trading at $2.12, down over 4% during this period.
