17.06.2025 14:22

Canada has become the first country to approve a spot XRP exchange-traded fund (ETF), a landmark decision signifying growing regulatory acceptance of digital assets. The Ontario Securities Commission (OSC) granted its final approval to Purpose Investments' application, paving the way for the XRPP ETF to begin trading on the Toronto Stock Exchange (TSX) on June 18th.

This innovative ETF will offer investors direct exposure to XRP's price fluctuations without the complexities of owning the cryptocurrency directly. Trading will occur on the TSX under the ticker symbol XRPP, mirroring the straightforward trading mechanics of traditional ETFs. The introduction of XRPP aims to provide convenient and regulated access to XRP's market performance.

Vlad Tasevski, Chief Innovation Officer at Purpose Investments, celebrated the OSC's decision, praising Canada's proactive approach to establishing a robust and regulated environment for digital assets. He highlighted Purpose Investments' commitment to providing investors with safe and easy access to the burgeoning blockchain technology sector.

Purpose Investments' strategy of expanding access to digital assets through regulated channels continues. This recent approval follows the OSC's earlier green light for several Solana ETFs, further demonstrating Canada's willingness to embrace a broader range of altcoin investment opportunities. This progressive stance solidifies Canada's position as a leader in the evolving landscape of digital asset regulation, gleaned from information obtained from internet sources.