Spot XRP ETF Approved in Canada: Trading Starts June 18 as XRP Surges 7%
Summary: Purpose Investments has received regulatory approval to launch the first spot XRP ETF in Canada, set to begin trading on the Toronto Stock Exchange under the ticker XRPP on June 18. The announcement triggered a 7% price surge for XRP, outpacing Bitcoin and the broader crypto market. This follows Purpose’s pioneering 2021 spot Bitcoin ETF. Meanwhile, the SEC is expected to decide on Franklin Templeton’s U.S. XRP ETF application imminently, with Bloomberg analysts predicting an 85% approval likelihood this year. Legal developments in Ripple’s case against the SEC could further influence ETF approvals.
What Is the Purpose XRP ETF and When Does It Launch?
Purpose Investments, the firm behind the world’s first spot Bitcoin ETF in 2021, has secured approval from the Ontario Securities Commission (OSC) to launch a spot XRP ETF in Canada. The fund, trading under the ticker XRPP, will debut on the Toronto Stock Exchange on June 18, 2025. This marks a significant milestone for XRP, the fourth-largest cryptocurrency by market cap, as it gains exposure through traditional investment vehicles.
The ETF’s approval underscores Canada’s progressive stance on regulated crypto products. Vlad Tasevski, Purpose’s Chief Innovation Officer, emphasized that this reinforces Canada’s leadership in digital asset innovation. The fund will allow investors to gain direct exposure to XRP without holding the underlying asset, simplifying compliance and custody challenges.
XRP’s price reacted positively to the news, jumping nearly 7% in 24 hours, outperforming Bitcoin (BTC) and the CoinDesk 20 Index. Analysts attribute the rally to renewed institutional interest and anticipation of broader ETF approvals.
Image source: Purpose Investments
How Does the U.S. SEC’s Pending Decision Impact XRP ETFs?
The U.S. Securities and Exchange Commission (SEC) is expected to announce its decision on Franklin Templeton’s spot XRP ETF application on June 17. Bloomberg analysts estimate an 89% chance of approval, which could catalyze further price gains and institutional adoption.
Other major firms, including Bitwise, Grayscale, and ProShares, are also awaiting SEC rulings. Key deadlines include:
| Firm | ETF Type | Decision Deadline |
|---|---|---|
| Grayscale | XRP ETF | October 18, 2025 |
| ProShares | XRP ETF | June 25, 2025 |
James Seyffart, a Bloomberg ETF analyst, notes that delays are standard for SEC reviews, with most final decisions likely in October. Even under a crypto-friendly SEC administration, early approvals would be atypical.
What Legal Factors Could Influence XRP ETF Approvals?
Ripple’s ongoing case with the SEC remains pivotal. On June 12, both parties filed a joint motion requesting Judge Torres to lift the institutional sales ban and reduce Ripple’s $125 million penalty. A favorable ruling by June 19 could strengthen the case for XRP ETFs by clarifying regulatory uncertainty.
Nate Geraci of Crypto ETF Store highlights that innovations like staking and altcoin ETFs are accelerating market evolution. However, the SEC’s stance on XRP’s security classification remains a hurdle.
Why Is Canada Leading in Crypto ETF Adoption?
Canada’s regulatory clarity has positioned it as a hub for crypto ETFs. Purpose’s 2021 Bitcoin ETF set a precedent, and the OSC’s approval of the XRP ETF further solidifies this reputation. The country’s proactive approach contrasts with the SEC’s cautious stance, attracting global investors.
