The post Purpose Files for First Spot Ripple (XRP) ETF in Canada appeared on BitcoinEthereumNews.com.

Purpose Investments files for the first-ever Ripple (XRP) ETF in Canada. Growing interest in crypto ETFs as regulations evolve, with more expected in 2025. Purpose leads with crypto ETFs, following its Bitcoin ETF success in Canada. Purpose Investments, a Canadian asset management firm, has filed a draft proposal for the world’s first exchange-traded product based on the spot value of Ripple (XRP). Following its role as the leader behind the first Bitcoin and Ether ETFs, Purpose Investments is now seeking to break new ground in the Ripple market. The company has filed the required documentation with Canadian securities regulators to introduce the Purpose Ripple ETF. This ETF is intended to invest in long-term holdings of XRP, creating an innovative way for investors to gain access to the digital asset in a legal environment. 🚀 Innovation drives the future of digital asset investing. We’re proud to file a preliminary prospectus for the world’s first Ripple (XRP) ETF – expanding access to regulated, institutional-grade crypto exposure. Learn more: https://t.co/x39gjnQcVb pic.twitter.com/PXpwO4mE1q — Purpose Investments (@PurposeInvest) January 30, 2025 Som Seif, the founder and CEO of Purpose Investments, expressed the company’s continued commitment to connecting traditional finance with decentralized finance. Seif noted that with XRP gaining increasing adoption and institutional interest, an ETF would provide investors with a transparent and familiar way of getting exposure to the asset.  Related: Grayscale Files for XRP Spot ETF: Will XRP Price Rally on the News? The Rise of Crypto ETFs: A Growing Trend Purpose Investments’ move comes as interest in crypto ETFs grows. Driven by shifting regulatory attitudes, several other firms have made similar filings in recent months. Grayscale, CoinShares, Bitwise, WisdomTree, and 21Shares are among the asset managers that have applied for XRP ETFs in the United States. As regulatory landscapes change, many industry leaders envision…

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Filed under: News - @ February 1, 2025 3:21 pm