Key Takeaways
- Purpose Investments has debuted Canada’s first XRP spot ETF on the Toronto Stock Exchange.
- The ETF trades under the ticker XRPP and provides direct exposure to XRP with multiple currency options.
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Purpose Investments, Canada’s leading crypto ETF provider, has officially launched the Purpose XRP ETF on the Toronto Stock Exchange. The fund is the country’s first investment product that offers direct exposure to XRP, the fourth-largest crypto asset by market cap.
The launch follows Monday’s confirmation that Purpose Investments secured final OSC approval and was set to go live on Wednesday. The asset manager submitted a filing for its proposed ETF in January.
The Purpose XRP ETF, trading under the ticker XRPP, is available in CAD-hedged, CAD non-hedged (XRPP.B), and US dollar (XRPP.U) units.
Commenting on the launch, Vlad Tasevski, Chief Innovation Officer at Purpose Investments, said in a Wednesday statement that there is strong investor demand in Canada for accessible digital asset products, and “XRP ETF has been one of the most requested digital assets” in their product lineup due to its design for fast, low-cost global payments.
“With this launch, we’re not just adding another ETF,” said Tasevski. “We’re expanding a platform built to reshape how Canadians access the future of finance. Our track record in digital assets reflects a deep belief in blockchain’s real-world potential, and we remain focused on trust, access, and education to help investors and advisors navigate this evolving space with clarity and confidence.”
The ETF features institutional-grade custody through Gemini and Coinbase, allowing investors to hold it in registered accounts, such as TFSAs and RRSPs. It joins Purpose’s existing digital asset ETF lineup, which includes products offering exposure to Bitcoin, Ether, and Solana.
“The Purpose XRP ETF is a streamlined, advisor-ready solution that transforms XRP’s real-world utility into a secure, investable format,” said Paul Pincente, VP of Digital Assets at Purpose Investments.
Purpose Investments manages over $24 billion in assets and operates as a division of Purpose Unlimited, led by entrepreneur Som Seif.
XRP is trading at around $2.1 at press time, down 3.5% in the last 24 hours, per CoinMarketCap data. The digital asset surged around 8% on Monday on news of the Purpose XRP ETF launch.
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