16.06.2025 19:28
Canada has become the second country globally to offer an XRP exchange-traded fund (ETF), beating the United States to the punch. Purpose Investments, a Toronto-based asset management firm, received final regulatory approval from the Ontario Securities Commission (OSC) to launch this innovative financial product, which will commence trading on June 18th.
This landmark approval provides Canadian investors with direct exposure to XRP, a significant development considering the ongoing regulatory hurdles faced by similar initiatives in the US. Furthermore, the OSC's decision to permit holdings of this ETF within registered accounts offers a significant tax advantage for investors, allowing them to realize substantially reduced capital gains taxes.
Vlad Tasevski, Purpose Investments' Chief Innovation Officer, hailed the approval as a testament to Canada's pioneering role in fostering a regulated digital asset ecosystem. His statement emphasized the company's commitment to innovation within the cryptocurrency space, highlighting Canada's continued leadership in this rapidly evolving sector.
This regulatory win is particularly noteworthy given the recent appointment of a prominent Bitcoin critic as Canada's Prime Minister. Despite this political shift, Canada's commitment to a progressive regulatory framework for cryptocurrencies remains evident, underscored by its history of crypto-friendly policies, including the launch of North America's first crypto ETF four years ago—also by Purpose Investments—and the granting of a registration license to Coinbase in 2022. The country's substantial institutional investment in crypto assets further strengthens this narrative.
In short, Canada's approval of the XRP ETF demonstrates its ongoing dedication to providing a robust and accessible environment for cryptocurrency investment, setting a precedent for other nations grappling with the complexities of regulating digital assets and demonstrating a willingness to embrace innovation despite political headwinds.
