Purpose Investments Inc. has received a final prospectus receipt for its new product, the Purpose XRP ETF, and is expected to begin trading on the Toronto Stock Exchange (TSX) on June 18, under the ticker symbol XRPP.
According to the press release, this new ETF will give investors direct exposure to XRP. The ETF will come in three versions: a Canadian dollar-hedged unit (XRPP), a Canadian dollar non-hedged unit (XRPP.B), and a U.S. dollar unit (XRPP.U). All versions can be held in registered accounts like Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs).
“The OSC’s granting of a receipt for the Purpose XRP ETF prospectus reinforces Canada’s global leadership in building a regulated digital asset ecosystem,” Vlad Tasevski, CIO at Purpose investment, said in the press release. “We’re proud to continue pushing the boundaries of what’s possible in the space by offering investors simple, secure access to the infrastructure powering real-world blockchain adoption.
This adds up to the list of ETF offers from the investment company. Purpose has already launched an ETF in Bitcoin and Etheruem which were both approved last year. Meanwhile, SEC is still yet to make any decision on XRP ETF.
So far, there have been a number of applications but SEC has delayed its decision citing that it needs more time to review them. However, there’s high chance that applications from ProShares and Franklin Templeton might be the first ones to get approved.
Also Read: Judge Torres to Grant Ripple SEC Motion Today? Pro-XRP Lawyers Weigh In
