Quick overview

Live XRP/USD Chart

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Purpose Investments’ XRP exchange-traded fund (ETF) in Canada and North America demonstrated resilience after a shaky start. On June 30, the fund, which trades on the Toronto Stock Exchange (TSX), rose by 11.89 percent, closing at $10.6.

The ETF has gained 6.19 percent over the past five days and 7.4 percent since its launch on June 18. While XRP, the underlying cryptocurrency, has faced difficulty breaking through key resistance levels, a recovery appears to be in progress. Initially, the ETF mirrored XRP’s overall weakness, but recent sessions show it is beginning to diverge slightly.

It ranks second globally among XRP ETFs, after Brazil’s Hashdex XRP product. Purpose Investments charges a management fee of 0.69 percent, capped at 0.89 percent, with any savings passed on to investors.

The ETF is an attractive way for Canadian investors to gain exposure to digital assets, as it can be held in tax-advantaged accounts, which include RRSPs and TFSAs.

Although the launches in Canada and Brazil have had limited impact on XRP’s global price so far, more notable movements may be on the horizon. Recently, the SEC sought public feedback on Franklin Templeton and WisdomTree’s proposals for spot XRP and Solana ETFs.

If approved, these products—being the first of their kind just south of Canada—would be listed on Cboe’s BZX Exchange, potentially attracting significant institutional participation and liquidity.