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North America’s first spot XRP ETF is breaking out

2025-07-01 13:51:43

North America’s first spot XRP ETF is breaking out

Main Idea

Canada's first spot XRP ETF, launched by Purpose Investments, has shown strong performance since its debut, with potential implications for future XRP ETF approvals in the U.S.

Key Points

1. The Purpose Investments XRP ETF surged 11.89% on June 30, closing at $10.63, and has gained 6.19% over the past five days and 7.37% since its inception on June 18.

2. The ETF is the second spot XRP ETF globally, following Brazil’s Hashdex XRP offering, and charges a management fee of 0.69%, capped at 0.89%.

3. Canadian residents can hold the ETF in tax-advantaged accounts like TFSAs and RRSPs, making it an attractive investment vehicle.

4. The U.S. SEC has requested public input on spot XRP and Solana ETF proposals, which, if approved, would be listed on Cboe’s BZX Exchange.

5. XRP’s price remains stagnant, trading at $2.20, with a key resistance level at $2.25 that could lead to a push toward $2.50 if broken.

Description

Canada and North America’s first spot XRP exchange-traded fund ( ETF ), launched by Purpose Investments, is showing signs of strength following a choppy debut . Trading on the Toronto Stock Exchange (TSX), the fund surged 11.89% on June 30, closing at $10.63. Over the past five days, the ETF has gained 6.19%, and since its inception on June 18, it is up 7.37%. XRPP ETF all-time price chart. Source: TradingView This resurgence comes despite the underlying XRP cryptocurrency struggling to break th...

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