Just In: Purpose XRP ETF (XRPP) Goes Live On Toronto Stock Exchange

Purpose Investments has launched the Purpose XRP ETF under the ticker ‘XRPP’ on the Toronto Stock Exchange (TSX). This becomes the third Spot ETF to launch worldwide and the first in Canada, a development that represents a milestone for the altcoin’s ecosystem.

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Purpose XRP ETF Launches On The TSX

In a press release, Purpose Investments announced the launch of the Purpose XRP ETF, which is now trading on the TSX under the ticker ‘XRPP.’ The asset manager noted that the ETF will offer spot exposure to XRP, which is the native token of the XRP Ledger (XRPL) and has ties to Ripple.

Meanwhile, this is the first spot XRP to launch in Canada and the third to launch worldwide after 21Shares XRP ETP in Switzerland and Hashdex’s ETF in Brazil. The ETF will be available in CAD-hedged (TSX: XRPP), CAD non-hedged (TSX: XRPP.B), and US dollar (TSX: XRPP.U) units.

As CoinGape reported earlier, Purpose Investments secured the final regulatory approval to launch the fund on June 16. Following the approval, the asset manager revealed that the fund would likely go live on June 18, which has now happened.

Commenting on the launch, Vlad Tasevski, Purpse Investments Chief Innovation Officer, said,

Canadian investors continue to look for simple, safe, and transparent ways to access the digital asset market, and the XRP ETF has been one of the most requested digital assets in our lineup, thanks to XRP’s design for fast, low-cost global payments

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