- Purpose Investments launches XRPP, Canada’s first XRP spot ETF, on the TSX.
- 3iQ follows with XRPQ, backed by Ripple and offering zero fees for six months.
Canada has officially launched its first spot XRP exchange-traded funds (ETFs), with Purpose Investments and 3iQ listing products on the Toronto Stock Exchange (TSX). These ETF launches follow final approval from the Ontario Securities Commission (OSC) on Monday.
Purpose Investments debuted its XRP ETF under the ticker XRPP. The product offers direct exposure to XRP in three units: CAD-hedged, CAD non-hedged (XRPP.B), and USD (XRPP.U). It joins Purpose’s broader lineup of digital asset ETFs, which includes Bitcoin, Ethereum, and Solana products.
Ripple-Backed ETFs Offer Direct XRP Access
Meanwhile, 3iQ introduced its own XRP ETF under the ticker XRPQ. The product also offers direct XRP exposure and is backed by Ripple, the blockchain firm behind the XRP Ledger. Ripple has invested in the fund, although the amount remains undisclosed.
Purpose’s XRPP uses institutional-grade custody through Gemini and Coinbase. Investors can hold the ETF in registered accounts such as TFSAs and RRSPs. According to Purpose’s Chief Innovation Officer, Vlad Tasevski, XRP has long been one of the most requested products due to its utility in fast, low-cost global payments.
3iQ’s XRPQ also features secure cold storage and is available to Canadian investors via registered accounts. Moreover, qualified international investors can access it depending on local regulations. The fund will carry zero management fees for its first six months to attract institutional attention.
3iQ CEO Pascal St-Jean noted that XRPQ offers a cost-effective and regulated entry into digital assets. He emphasized XRP’s historical growth, which has seen the token rise by over 10,850% since 2015.
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