Canada Green-Lights First XRP ETF, Beating the U.S. to Market

Purpose Investments has received the green light to launch Canada’s first spot XRP ETF, with trading set to begin on June 18.

The Ontario Securities Commission (OSC) also approved the ETF for inclusion in registered accounts, offering investors tax advantages.

This makes Canada only the second country globally to offer a spot XRP fund, reinforcing its status as a leader in regulated crypto products. Purpose previously launched North America’s first Bitcoin ETF in 2021.

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The move comes despite Canada’s newly elected prime minister being critical of Bitcoin. Meanwhile, the U.S. SEC continues to delay similar approvals, with no major asset manager yet filing for a spot XRP ETF. Analysts expect growing international momentum to increase pressure on U.S. regulators.

Market watchers believe that Canada’s approval could set a precedent, particularly if the XRP ETF sees strong demand. As the SEC continues its legal battle with Ripple, global adoption of XRP-based investment products may accelerate, potentially leaving the U.S. behind in yet another area of digital asset innovation.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.