🚨 Purpose XRP ETF approved for listing in Canada: A big boost for XRP and the altcoin market?
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The Ontario Securities Commission (OSC) has officially approved the first XRP ETF in North America – Purpose XRP ETF issued by Purpose Investments Inc. This fund will be listed on the Toronto Stock Exchange (TSX) under the code XRPP on June 18, providing direct access to spot XRP.
🎯 Why is this 'super bullish' news for XRP?
• This is the first spot ETF for XRP in the traditional market, allowing institutional investors to easily access XRP without worrying about cold storage or hot wallets.
• After Bitcoin and Ethereum spot ETFs in the U.S., Canada is ahead with XRP, opening up opportunities for other countries to consider.
• If successful, XRP could be repositioned as a mainstream asset rather than being associated with legal risks for a long time.
📈 Scenario if this ETF is well-received:
• XRP could attract new capital from investment funds and financial institutions in Canada and eventually globally.
• The current price of XRP is around $2.2 (at the time of writing). If significant capital flows in, XRP could potentially return to the $3.4 range, especially as the SEC in the U.S. shows signs of cooling down in its legal battle with Ripple.
• Other altcoins will also benefit if the XRP ETF succeeds – as it signals that the traditional market is gradually 'accepting' major tokens beyond BTC/ETH.
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💬 Do you think the XRP ETF has enough power to propel XRP as far as the BTC ETF once did? Leave your comments!
