Purpose Investments has secured regulatory approval from the Ontario Securities Commission (OSC) to launch Canada’s inaugural exchange-traded fund (ETF) tracking XRP. The ETF is scheduled to commence trading on June 18, 2025, enabling Canadian investors to hold XRP in tax-advantaged registered accounts including Registered Retirement Savings Plans (RRSPs) and Tax-Free Savings Accounts (TFSAs).
This approval positions Canada as a frontrunner in crypto-asset adoption, contrasting sharply with ongoing delays at the U.S. Securities and Exchange Commission (SEC) regarding similar products. Industry analysts suggest the landmark decision could pressure U.S. regulators to accelerate approvals for crypto ETFs, with expectations mounting for filings targeting XRP and Solana products.
The resolution of the SEC’s protracted lawsuit against Ripple remains a critical factor influencing future XRP ETF approvals in the United States, underscoring regulatory divergences between the two markets.