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.
📖 Related Reading
- 📰 Classover Taps $500M Convertible Note Deal to Boost Solana Treasury Strategy
- 📰 CFTC’s Goldsmith Romero says commissioner exodus ‘not a great situation’
“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**
🔗 You Might Also Be Interested In
Classover Taps $500M Convertible Note Deal to Boost Solana Treasury Strategy
CFTC’s Goldsmith Romero says commissioner exodus ‘not a great situation’
The Convergence of TradFi and Digital Asset Markets – A Maturing Ecosystem
💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!