Purpose Investments has launched Canada’s inaugural exchange-traded fund (ETF) for XRP, listed on the Toronto Stock Exchange. The product offers regulated exposure to XRP through direct holdings of the cryptocurrency, enabling investors to track its price movements via a traditional brokerage account.
Three distinct currency-denominated tickers are available: XRPP (CAD-hedged), XRPP.B (CAD unhedged), and XRPP.U (USD standard). These options cater to diverse investor preferences for currency risk management and accessibility.
The ETF enhances XRP’s market legitimacy while improving accessibility for mainstream and institutional investors, potentially boosting liquidity. Key benefits include regulatory oversight, professional custody solutions, brokerage convenience, and exchange-traded liquidity structures.
Investors should note inherent considerations including management fees, potential tracking error against XRP’s spot price, and indirect ownership without direct cryptocurrency custody. This launch represents a significant stride in integrating digital assets into conventional finance, reinforcing Canada’s leadership in cryptocurrency ETF innovation.