Cryptocurrency XRP Makes Mainstream Inroads in Canada with the Launch of Crypto-Based ETFs by Local Firms
**Canada Leads the Way in Digital Asset ETFs with the Launch of Purpose's XRP ETF**
In a significant move for the digital asset industry, Purpose Investments has launched the first-ever spot XRP Exchange Traded Fund (ETF) in North America on the Toronto Stock Exchange (TSX) on June 18, 2025. The ETF, available under the tickers XRPP (CAD-hedged), CRPP.B (CAD non-hedged), and XRPP.U (USD denominated), is a response to the growing demand for practical blockchain exposure and is engineered to meet the needs of portfolios, backed by experience.
The ETF received approval from the Ontario Securities Commission (OSC), positioning it as a secure, investable format for XRP. Paul Pincente, Vice President of Digital Assets at Purpose, stated that the ETF transforms XRP's "real-world utility into a secure, investable format." This launch highlights Canada's proactive approach to regulating digital assets, potentially encouraging similar developments in other countries.
While Purpose Investments has taken the lead in launching an XRP ETF, other Canadian financial institutions are also exploring the crypto space. For instance, Evolve Funds Group, known for offering other cryptocurrency-related investment products, has launched an XRP ETF this month. Ripple Labs, the developer of XRP, has also invested in 3iQ's new XRP ETF. However, there is no specific information available about 3iQ launching an XRP ETF, although they are known for their involvement in cryptocurrency investment products, such as the Bitcoin Fund.
Canada's regulatory environment is supportive of crypto investment products, positioning it as a leader in this space. The launch of the XRP ETF in Canada could potentially influence the US regulatory landscape, as the SEC is expected to provide updates on pending ETF applications by August 15, 2025. Experts believe there is a high likelihood of XRP ETF approval in the US by the end of 2025, potentially around 85-88%.
Vlad Tasevski, Chief Innovation Officer at Purpose, stated that Canadian investors have been looking 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. The ETF is designed to remove the operational hurdles of managing crypto directly, offering investors access to XRP through a regulated ETF structure with institutional-grade custody.
Since 2015, XRP's price has climbed from $0.02 to over $2.19, an increase of more than 10,000%. XRP is the third-largest coin by global market cap at $140B. Elliot Johnson, Chief Investment Officer at Evolve, explains that XRP is built for real-world utility, enabling fast, low-cost cross-border payments and decentralized exchange functionality.
As digital assets become increasingly mainstream in financial markets, Canada is at the forefront of this evolution. Toronto's Evolve Funds Group has launched the Evolve Levered Bitcoin ETF and the Evolve Levered Ether ETF this year, further solidifying Canada's position as a leader in digital asset investment. The successful launch of the Purpose XRP ETF is part of a strategy to expand a platform built to reshape how Canadians access the future of finance.
Investors searching for practical blockchain exposure may find the XRP ETF launched by Purpose Investments to be a secure and investable format given its engineering to meet portfolio needs and its approval from the Ontario Securities Commission. The launch of this ETF could potentially influence other countries to adopt a proactive approach to regulating digital assets, as seen in Canada's supportive regulatory environment for crypto investment products.
