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Purpose Investments Aims to Outpace US Competitors with First $XRP P ETF in Canada

In a strategic move to lead the market, Purpose Investments has officially submitted a preliminary prospectus to Canadian securities regulators for the launch of a Purpose Ripple ($XRP ) ETF. This innovative fund is designed to allocate the majority of its assets to long-term XRP holdings, aiming to deliver sustained capital appreciation to investors.

Building on its prior success, Purpose Investments was among the first to introduce spot Bitcoin and Ethereum ETFs on the Toronto Stock Exchange in early 2021. Now, the firm seeks to push the boundaries further by introducing what it claims to be the world’s first spot XRP ETF, even though similar exchange-traded products (ETPs) exist in select European markets. According to Som Seif, CEO and Founder of Purpose Investments, the growing institutional demand for XRP presents a strong case for an ETF, allowing investors to gain exposure within a well-regulated and transparent framework.

While major U.S. financial firms, including Grayscale, Bitwise, Canary Capital, WisdomTree, and 21Shares, have already filed applications for an XRP ETF with the SEC, Canada’s faster regulatory approval process could give Purpose Investments a head start in launching ahead of its American counterparts. Polymarket data indicates an 82% probability of the SEC approving an XRP ETF, fueling investor optimism. Meanwhile, XRP’s price action remains in focus, consolidating within a downward trend. A breach of the lower channel could push support near $2.62, whereas a sustained breakout above key resistance levels might propel XRP toward its all-time high of $3.55.

#XRPETF #InstitutionalAdoption #CryptoRegulation #MarketTrends $XRP

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