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Canada Approves First Spot XRP ETF, Launching June 18 on TSX
- Canada has approved its first spot XRP ETF, which will start trading on the Toronto Stock Exchange (TSX) on June 18, 2025, providing regulated access to Ripple's digital asset.
- The Purpose XRP ETF will have three variations for different investor needs: XRPP (CAD-hedged), XRPP.B (Unhedged CAD), and XRPP.U (USD-denominated), offering direct exposure to XRP without the need for managing private keys or wallets.
- The ETF is eligible for Canadian registered accounts, such as TFSAs and RRSPs, potentially providing tax advantages to investors.
- Purpose Investments views the approval as a testament to Canada's advancement in supporting institutional-grade crypto infrastructure.
- The XRP ETF is based on the XRP Ledger, known for its efficient and rapid cross-border settlement capabilities.
- Vlad Tasevski, Purpose's Chief Innovation Officer, sees the approval as a confirmation of Canada's development in establishing a regulated environment for digital assets.
- Purpose's XRP ETF launch follows previous Bitcoin and Ethereum ETF introductions, showcasing Canada's progressiveness in offering crypto-backed financial products.
- The approval reflects Canada's significant role in creating a regulated blockchain ecosystem.
- The Purpose XRP ETF opens up opportunities for investors to engage in XRP's price movements within a regulated framework.
- The ETF launch is part of a broader trend in Canada towards embracing digital asset investment products.
- The XRP ETF enhances the accessibility of XRP to a wider investor base.
- Canada continues to position itself as a leader in the digital asset space with the introduction of the XRP ETF.
- Investors can benefit from the ETF's structure that eliminates the need for directly handling private keys or wallets.
- The XRP ETF launch on TSX reflects the growing acceptance of digital assets in traditional financial markets.
- The ETF's availability in different formats caters to diverse investor preferences and needs.
- Canada's move to approve the XRP ETF reinforces its reputation as a progressive jurisdiction for crypto-related financial products.
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