XRP ETF Approval: Find Out Which Country Led the Move

XRP ETF Approval in Canada Signals Growing Institutional Adoption

In a big move for the crypto industry, an organisation named as Purpose Investments has got the green light to introduce a spot XRP ETF in Canada. The fund, named Purpose XRP ETF. It will begin trading on the Toronto Stock Exchange (TSX) on June 18. It will be available under three tickers: XRPP (CAD-hedged), XRPP.B (CAD), and XRPP.U (USD).

This marks the third spot XRP ETF globally, following earlier launches by Hashdex in Brazil and 21Shares in Switzerland. It is also the first of its kind in North America, adding more trust and access to this crypto as an investment.

What Does This ETF Offer?

This ETF by Purpose provides direct exposure to spot XRP. It means investors can hold the real asset of the XRP ledger, not just the futures or other kind.

Also, this ETF will be eligible for tax-friendly accounts like TFSAs and RRSPs. This makes it an appealing alternative for both retail and institutional investors in Canada. It is also available in distinct currency options like CAD and USD, making it flexible for investors with different requirements. 

Market Reactions and Technical Signs

Post this announcement the price of the crypto increased over 7%, depicting strong interest in the market. Many in the industry are now discussing the probability of this altcoin hitting new highs, specifically with the ongoing buzz around the DeFi growth and getting traction from huge institutions. It is currently trading at $2.24 with an increase of 3.30%, the trading volume has also increased by more than 100%.  

Source: CoinMarketCap

But not all signs are bullish. Some technical indicators depict that this altcoin may be overbought in the short period. While the MACD and trading volume are strong, the CRSI is signalling potential pullback. In simple words, this coin may be due for a small dip before going higher. 

What About the U.S.?

Canada has taken a step further but the investors in the U.S. are yet to get Securities and Exchange Commission (SEC) approvals to be able to invest in similar ETFs. As yet, there are seven asset managers who have filed XRP ETF proposals in the U.S. and there is hope. 

According to Polymarket reports, the odds of approval have climbed to 88%. A final decision from the SEC is expected by October 17, 2025. 

Source: PolyMarket

What This Means for XRP and Altcoins?

Approving the Purpose ETF is more than a positive development for those who hold this digital currency. It indicates regulators are increasingly ready to accept crypto ETFs, which can translate to greater usage and price increase for other altcoins too.

As this altcoin is in the race of ETFs, other popular tokens like Solana, Avalanche, and Cardano can also be the next. If these ETFs get approved, specifically in big markets like the United States, the crypto industry might experience a bullish momentum in the altcoins space. 

Final Thoughts

The introduction of this Exchange Traded Fund by Purpose is a huge achievement for the digital assets sector, particularly for crypto enthusiasts. Not only does it improve the legitimacy of this crypto by Ripple, but it also signals that crypto is becoming increasingly mainstream as an investment choice. 

As more ETFs are coming down the road and large money sets out to enter the market, the prospects of XRP as well as the altcoin market are flourishing.