Canada Launches First Spot XRP ETF, Boosting Network Activity

Canada Launches First Spot XRP ETF, Boosting Network Activity

Lede: Purpose Investments launched Canada’s first spot XRP ETF on June 18, 2025, boosting network activity on the Toronto Stock Exchange.

Nut Graph: The launch signifies increasing institutional acceptance of digital assets beyond Bitcoin and Ethereum, influencing regulatory dialogues globally.

Introduction

Purpose Investments launched Canada’s first spot XRP ETF , marking a significant step in XRP’s institutional integration. Trading on the Toronto Stock Exchange began on June 18, 2025.

Institutional Interest

Vlad Tasevski, Chief Innovation Officer at Purpose, highlighted XRP’s utility for global payments, noting strong demand from institutional investors, due to its transaction speed and low fees. As he mentioned, “XRP is uniquely positioned for global payments with fast transaction speeds and low fees.”

Impact on Network Activity

The launch has led to a record surge in XRP network activity, with whale wallets surpassing 2,700. Such accumulation by large investors reflects bullish sentiment in the market.

Regulatory Pressure

Regulated access through spot ETFs is anticipated to increase regulatory pressure on the U.S. regarding crypto ETF approvals similar to those for Bitcoin and Ethereum.

Expansion of XRP-backed Products

Both Purpose Investments and Evolve Funds Group have further expanded XRP-backed financial products, reinforcing digital asset institutionalization. This could trigger shifts in asset allocations within similar classes. The move follows historical trends where spot ETF launches led to upticks in cryptocurrency market activities. Such products may broaden institutional focus, boosting asset class legitimacy and market liquidity.