The date of the launch of the first spot-based XRP ETF in North America has been revealed

Purpose Investments has revealed that it will launch the first spot-based XRP exchange-traded fund (ETF) in North America on June 18. The novel product, which will offer investors direct access to the fourth-largest altcoin by market cap, will be available for trading on the Toronto Stock Exchange. The confirmation comes after it secured regulatory approval from the Ontario Securities Commission (OSC).

The first XRP ETF was launched in the US in April by Teucrium. The leveraged product offers twice the daily returns of the Ripple-linked token. Last month, Volatility Shares introduced the first futures XRP ETF that offers one-to-one exposure to the Ripple.