Asset Manager Purpose Investments are set to launch a Spot XRP
Exchange-Traded Fund (ETF) in Canada this week after obtaining regulatory approval, giving investors a way to get exposure to the fourth largest cryptocurrency at market value through traditional investment accounts.
ETF will start shopping at Toronto Stock Exchange on Wednesday 18 June under the XRPP ticker, according to a press release on Monday. The move comes after the Ontario Securities Commission (OSC) awarded the final prospectus for the investment vehicle, the company says.
XRP rose nearly 7% over the last 24 hours after the news surpassed Bitcoin
and Broad-Market Coindesk 20 index.
“OSC’s allocation of a receipt for the purpose XRP ETF Prospectus reinforces Canada’s global leadership in the construction of a regulated digital active ecosystem,” Vlad Tasevski, Chief Innovation Officer is said in a press release.
Purpose Investments in 2021 launched in Canada World’s first spot Bitcoin Etf years before the vehicle approval in the US
Read more: XRP Spot Etf in the USA moves closer to reality
