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First XRP ETF Launch in Canada Confirmed, Trading Date Announced
June 17, 2025
The first spot XRP ETF in North America would debut tomorrow as Purpose Investments receives final approval to launch the XRP-focused product. The Canadian-based asset manager is set to launch the Purpose XRP ETF on June 18, putting pressure on other regions, including the United States. According to a press release, the fund would trade on a top stock exchange in the country, offering users alternative exposure to XRP, the native token of the Layer 1 network XRP Ledger.
Purpose Investment to Launch Spot XRP ETF
Meanwhile, Purpose, which was the first to launch a spot Bitcoin ETF in 2021, is on track to become the first to debut an XRP-focused spot exchange-traded fund in North America. It received the final prospectus receipt yesterday and will immediately start offering the ETF tomorrow. The fund will list under the ticker XRPP on the Toronto Stock Exchange, offering investors the opportunity to gain exposure to the prominent cryptocurrency. Purpose began the ETF process on January 31, when it filed an initial prospectus with the Canadian securities regulator.
Less than six months later, Purpose received the final approval from the Ontario Securities Commission (OSC) to launch the product in Canada. The ETF launch would mark a major milestone for XRP, further underscoring broadening institutional traction towards the fourth-largest cryptocurrency by market cap.
Altcoin ETFs Gaining Traction
Interestingly, Purpose will not be the first to launch a spot XRP ETF. Hashdex launched a similar product in Brazil, the first of its kind globally. The fund launched on Brazil’s leading stock exchange, B3, under the ticker XRPH11 on April 25.
Meanwhile, other asset managers are also looking to launch the product, particularly in the US, as altcoin ETFs gain momentum. Asset managers like Bitwise, Grayscale, and Franklin Templeton, which has an intermediate deadline of today, have all applied for a spot XRP ETF.
Recent analysis from Bloomberg senior analyst Eric Balchunas suggests that an XRP ETF has an 85% chance of approval this year, with the expectation that the US SEC will approve the fund in the last quarter of the year. Blockworks co-founder Jason Yanowitz also shares a similar sentiment, insisting the XRP-focused ETFs would launch next after Solana’s.
Moreover, the US SEC has recently initiated proceedings to decide on WisdomTree’s spot XRP ETF, further fueling confidence that the product tracking the altcoin will launch soon. If approved, analyses suggest it would have a massive impact on XRP’s price.
DAG Managing Director Jake Claver predicted that XRP’s price would rally when the funds launch, suggesting it could mirror Bitcoin’s success. Another theory projects an XRP price of $12 if the XRP ETFs capture 15% of Bitcoin ETFs’ inflows.
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