Breaking: Canada Debuts Groundbreaking XRP ETF – First of Its Kind Hits Markets This Week
Canada just fired the starting pistol in the race for crypto ETF dominance—launching North America''s first XRP exchange-traded fund. No more begging your broker for Ripple exposure.
Why it matters: After years of regulatory limbo, institutional investors finally get a clean, compliant on-ramp to the sixth-largest cryptocurrency. Even the suits can''t ignore this liquidity magnet.
The fine print: While Wall Street dithers over Bitcoin ETFs, Toronto quietly outmaneuvered them—classic Canadian politeness masking ruthless financial innovation. Expect trading volumes to spike as arbitrage bots feast on cross-border price discrepancies.
Bottom line: Another brick in crypto''s wall of legitimacy crumbles. Though let''s be real—the real winners are the ETF managers collecting 2% fees on what''s essentially a digital IOU.
Canada Approves an XRP ETF Before the US
The XRP ETF is a coveted crypto-based financial instrument, but only one country is actually offering it on the market. The race to win approval has seen many setbacks in the US, yet overall Optimism remains high.
This week, one firm will turn Canada into the second nation to offer this product, as it announced in a press release.
Purpose Investments, an asset management firm based in Toronto, received final regulatory approval to offer an XRP ETF.
The Ontario Securities Commission (OSC), Canada’s top regulator, is allowing users to hold this ETF in registered accounts. Under Canadian law, this means that customers could pay substantially lower taxes on these assets.
“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. We’re proud to continue pushing the boundaries of what’s possible in the space,” claimed Vlad Tasevski, Purpose’s Chief Innovation Officer.
For the last few years, Canada has positioned itself as a crypto leader, launching the first crypto ETF in North America four years ago.
Purpose Investments also created this asset. A significant chunk of Canada’s institutional investors hold crypto, and the nation allowed Coinbase to secure a registration license last year.
However, a prominent bitcoin critic became Prime Minister this March, potentially disrupting the nation’s policies. In other words, it’s a very good sign that the OSC approved an XRP ETF under these circumstances.
Hopefully, this will help encourage the SEC to MOVE forward with a similar product in the US.
BlackRock, the largest asset manager in the US, still hasn’t filed for a spot product based on XRP, but prominent analysts believe it will do so soon.
Btw, I still fully expect BlackRock to file for spot sol & xrp ETFs…
As leader in both spot btc & eth ETFs, it WOULD make *zero* sense to cede other top crypto asset ETF categories to competitors.
Related, I also fully expect BlackRock to file for index-based crypto asset ETF.
The SEC is working hard with Ripple to resolve their ongoing legal dispute, which may help facilitate XRP ETF approval.
At this time, it’s impossible to predict when it’ll win approval, but the US will be the third nation in the hemisphere to offer it at the earliest. Canada and Brazil may remind the US that it needs to catch up to stay on the market’s cutting edge.
