Spot XRP ETF Set to Start Trading in Canada This Week After Regulatory Nod, Token Up 7%

Asset manager Purpose Investments is set to launch a spot XRP XRP exchange-traded fund (ETF) in Canada this week after obtaining regulatory approval, giving investors a way to gain exposure to the fourth-largest cryptocurrency by market capitalization through traditional investment accounts. The ETF will start trading on the Toronto Stock Exchange on Wednesday, June 18, under the XRPP ticker, according to a Monday press release . The move comes after the Ontario Securities Commission (OSC) granted final prospectus receipt for the investment vehicle, the company said. XRP was up nearly 7% over the past 24 hours following the news, outperforming bitcoin BTC and the broad-market CoinDesk 20 Index. “The OSC’s granting of a receipt for the Purpose XRP ETF prospectus reinforces Canada’s global leadership in building a regulated digital asset ecosystem,” Vlad Tasevski, chief innovation officer at Purpose Investments, said in a press release. Purpose Investments in 2021 launched in Canada the world’s first spot bitcoin ETF, years before the vehicles’ approval in the U.S. Read more: XRP Spot ETF in the U.S. Moves Closer to Reality

Source: CoinDesk