Canada Debuts First Spot XRP ETF on Toronto Stock Exchange

• Canada launches first spot XRP ETF on TSX, offering regulated crypto exposure.
• Purpose XRP ETF available in three versions with capped fees under 0.89%.
• ETF can be held in TFSAs and RRSPs, simplifying XRP investment in registered accounts.

On June 18, Canada launched its first spot XRP exchange-traded fund (ETF), making the Purpose XRP ETF (ticker XRPP) officially available on the Toronto Stock Exchange (TSX). This amounts to a major development in cryptocurrency investment, offering Canadian investors regulated exposure to XRP through traditional brokerage accounts without the need for cryptocurrency wallets or exchanges. The ETF’s introduction positions Canada as a leading market for regulated digital asset investment.

The Purpose XRP ETF is listed on the TSX in three variants, catering to different currency preferences and risk tolerances. These include the Canadian dollar (CAD) hedged version (XRPP), the CAD non-hedged version (XRPP.B), and a U.S. dollar-denominated version (XRPP.U). Each variant carries a management fee of 0.69%. The total cost to investors is capped at 0.89%, with any excess savings being returned to the fund holders.

Investment Through Registered Accounts

The ETF will be held in widely used Canadian registered accounts such as Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs). This feature simplifies XRP investment by allowing investors to gain exposure within tax-advantaged accounts, thereby integrating cryptocurrency assets into traditional financial planning frameworks.

To invest in the Purpose XRP ETF, investors must open a brokerage account with a Canadian financial institution or platform that provides access to the Toronto Stock Exchange. These can include major banks’ online brokerages or independent platforms that support TSX trading. Once an account is set up and funded, investors can search for the ETF by its ticker symbols, XRPP, XRPP.B, or XRPP.U, based on their preferred currency exposure.

Investment trades function similarly to other ETFs or stocks, allowing buyers to place market or limit orders through their brokerage. The ETF’s structure allows for easy trading and fund integration, making XRP accessible through standard equity trading mechanisms.

International Context and Regulatory Outlook

Canada’s introduction of a spot XRP ETF follows Brazil’s rollout of a similar product earlier this year, reflecting growing acceptance of digital assets within regulated financial markets globally. The U.S. Securities and Exchange Commission (SEC) has yet to approve any XRP ETFs, leaving the U.S. market pending regulatory clarity.

The Ontario Securities Commission (OSC) ‘s approval of the Purpose XRP ETF marks a regulatory victory for digital assets in Canada. The OSC’s decision underscores Canada’s regulatory framework, which accommodates emerging crypto products while seeking to protect investors.