Canada has made history by becoming the first country to approve a spot XRP exchange-traded fund (ETF), setting a precedent in the global race for cryptocurrency investment products. With Purpose Investments receiving regulatory clearance from the Ontario Securities Commission, the launch of the XRP ETF marks a pivotal moment for digital asset adoption — especially as the U.S. Securities and Exchange Commission (SEC) continues to delay its own decisions.
The Purpose XRP ETF is set to begin trading on June 18, 2025, on the Toronto Stock Exchange under the ticker symbol XRPP. This milestone not only strengthens Canada’s position as a leader in regulated crypto finance but also opens new doors for mainstream investors seeking exposure to one of the most widely used enterprise blockchain networks.
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What This Means for XRP and Digital Asset Regulation
The approval of a spot XRP ETF is more than just a win for Ripple Labs or XRP holders — it's a signal that regulators are beginning to recognize the maturity and utility of select digital assets. Unlike futures-based ETFs, which track derivatives contracts, spot ETFs hold the actual underlying asset, offering investors direct exposure with greater transparency and lower risk.
Purpose Investments will offer the XRP ETF in three variants:
- CAD-hedged shares
- Non-CAD-hedged shares
- USD-denominated shares
Additionally, the fund qualifies for inclusion in registered accounts such as Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs), making it accessible and tax-efficient for Canadian retail and institutional investors alike.
Following the announcement, XRP surged nearly 7% within 24 hours, briefly outperforming Bitcoin in terms of price momentum. While the token later pulled back to trade around $2.15 — down 3.49% over the past day according to CoinMarketCap — market sentiment remains bullish in light of broader structural developments.
Vlad Tasevski, Chief Innovation Officer at Purpose Investments, emphasized the significance of this regulatory milestone:
“The OSC’s approval of the Purpose XRP ETF prospectus reinforces Canada’s global leadership in building a regulated digital asset ecosystem.”
He added:
“We’re proud to continue pushing the boundaries of what’s possible in this space, providing investors with simple, secure access to the infrastructure driving real-world blockchain adoption.”
U.S. Still on Hold — But Momentum Is Building
In contrast, the United States has yet to approve any spot XRP ETF. The SEC has extended its review period for proposed funds, including those from Franklin Templeton covering both Solana (SOL) and XRP, with final decisions now expected by late 2025.
This delay reflects ongoing concerns around investor protection, market manipulation risks, and custody standards — issues the SEC has cited repeatedly in past cryptocurrency rulings. However, regulatory hesitation hasn’t dampened market confidence.
Prediction markets like Polymarket currently assign a 90% probability that an XRP ETF will be approved in the U.S. within the next 12 months. That level of optimism suggests strong institutional demand and growing acceptance among policymakers, even amid caution.
Canada’s move may serve as a blueprint for U.S. regulators, demonstrating how a well-structured, transparent ETF can operate safely within existing financial frameworks. As cross-border capital flows increase, pressure will likely mount on American authorities to align with international trends.
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XRP’s On-Chain Growth Hints at a Major Breakout
Beyond regulatory headlines, fundamental data paints an increasingly compelling picture for XRP’s future.
According to recent on-chain analytics from AMBCrypto, Ripple’s network activity has surged sevenfold, signaling heightened engagement across wallets, institutions, and payment corridors. Key indicators include:
- A sharp rise in large wallet accumulation
- Increased transaction volume across global remittance channels
- Growing integration with financial institutions using RippleNet for cross-border settlements
These metrics suggest that XRP is not merely benefiting from speculative hype but is seeing real-world usage growth — a critical factor for long-term valuation.
If this momentum continues through Q3 2025, many analysts believe XRP could break out into new price territory and solidify its status as a core institutional-grade digital asset.
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Frequently Asked Questions (FAQ)
Q: What is a spot XRP ETF?
A: A spot XRP ETF is an exchange-traded fund that directly holds XRP tokens as its underlying asset. It allows investors to gain exposure to XRP’s price movements without needing to buy or store cryptocurrency themselves.
Q: When will the XRP ETF start trading in Canada?
A: The Purpose XRP ETF begins trading on June 18, 2025, on the Toronto Stock Exchange under the ticker XRPP.
Q: Is the U.S. going to approve an XRP ETF soon?
A: The SEC has delayed its decision on proposed spot XRP ETFs, including filings from Franklin Templeton, with rulings expected by late 2025. Prediction markets suggest a 90% chance of approval within the next year.
Q: How does the Canadian XRP ETF benefit investors?
A: It offers regulated, tax-advantaged access to XRP through familiar investment vehicles like TFSAs and RRSPs. Investors avoid self-custody risks while gaining exposure to blockchain innovation.
Q: Did XRP’s price go up after the ETF approval?
A: Yes — XRP rose nearly 7% within 24 hours of the announcement. However, it later retraced to around $2.15 due to broader market corrections.
Q: Can I buy the Canadian XRP ETF from outside Canada?
A: International investors may access the ETF through brokerage platforms that support TSX-listed securities, though eligibility depends on local regulations and account permissions.
Final Outlook: A New Era for Crypto Investment Products
Canada’s approval of the first-ever spot XRP ETF is a watershed moment for digital finance. It demonstrates that when innovation meets clear regulation, financial markets can evolve responsibly — unlocking value for millions of investors.
While the U.S. remains cautious, global momentum is shifting fast. With rising on-chain activity, growing institutional interest, and increasing regulatory clarity, XRP is positioning itself as more than just a cryptocurrency — it’s becoming infrastructure.
As we move deeper into 2025, all eyes will be on whether American regulators follow suit. One thing is certain: the era of crypto-native financial products is no longer coming — it’s already here.
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