Purpose Investments, the firm behind the world's first spot Bitcoin ETF, has filed with Canada's securities regulator to launch the Purpose Ripple ETF, pending regulatory approval. The proposed ETF aims to provide long-term capital appreciation through direct holdings of XRP, the third-largest cryptocurrency by market cap. Purpose Investments cites growing institutional interest in XRP as the reason for launching the ETF, believing it can offer investors a transparent and regulated way to access the asset. The announcement comes as NYSE Arca also files to propose a spot XRP ETF to the SEC, indicating a push for more favorable regulation under the new US administration.



Other News from Today