Purpose Investments Inc. is set to launch the Purpose XRP ETF on June 18, offering investors direct exposure to XRP through the Toronto Stock Exchange.
The ETF will be available in three versions, including Canadian dollar-hedged, non-hedged, and U.S. dollar units, all eligible for registered accounts such as TFSAs and RRSPs.
According to COINOTAG, this launch marks a significant milestone in broadening institutional and retail access to XRP, potentially influencing market liquidity and investor participation.
Purpose XRP ETF launches June 18 on TSX, providing diversified exposure options and accessibility through registered accounts for Canadian investors.
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Purpose Investments Inc. has received regulatory approval to introduce the Purpose XRP ETF, scheduled to begin trading on the Toronto Stock Exchange (TSX) under the ticker symbol XRPP. This development represents a strategic advancement in the cryptocurrency investment landscape, as it enables investors to gain direct exposure to XRP without the complexities of holding the asset directly. The ETF’s structure offers three distinct units: a Canadian dollar-hedged unit (XRPP), a Canadian dollar non-hedged unit (XRPP.B), and a U.S. dollar unit (XRPP.U), catering to a broad spectrum of investor preferences and risk tolerances.
One of the key advantages of the Purpose XRP ETF is its eligibility for inclusion in registered accounts such as Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs). This feature significantly enhances the accessibility of XRP investments for Canadian retail investors by allowing tax-advantaged growth within these accounts. The availability of both hedged and non-hedged units further provides investors with options to manage currency risk relative to their portfolio strategies. This flexibility is expected to attract a diverse investor base, ranging from conservative to more risk-tolerant participants.
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Source: https://en.coinotag.com/purpose-xrp-etf-could-launch-on-toronto-stock-exchange-around-june-18/