First North American XRP Spot ETF Approved by Purpose Investments

- First spot XRP ETF trading under XRPP on June 18 - Approval marks a significant moment for North American altcoin investments On June 16, 2025, The Block reported that Purpose Investments has received approval to launch North America’s first spot XRP exchange-traded fund (ETF). The fund is set to start trading on June 18 on the Toronto Stock Exchange under the ticker XRPP, allowing investors to gain direct exposure to XRP without holding the asset. Purpose Investments’ approval underscores a rising global interest in altcoin ETFs, as evidenced by Brazil and Switzerland already offering similar XRP-based products. Meanwhile, in the United States, firms such as Bitwise, CoinShares, and Grayscale have also applied to the Securities and Exchange Commission, seeking approvals for their spot XRP funds. This follows the SEC's recent approval of three XRP futures exchange-traded products. Following reports of this new Canadian ETF, XRP's price increased by 6.5%, reaching $2.32. Consequently, XRP's market capitalization rose to $136.5 billion, making it the fourth-largest cryptocurrency. According to CoinMarketCap on June 16, XRP (XRP) was trading at $2.323 as of 21:09 UTC, and its 24-hour trading volume had also increased by 8.181%.