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- Canada becomes the first in North America to approve spot XRP ETFs, outpacing the U.S.
- Purpose and 3iQ launch XRP ETFs with support for tax-advantaged accounts like RRSPs and TFSAs.
- Ripple backs 3iQ’s XRPQ ETF, signaling strong institutional interest in regulated XRP exposure.
Canada has shocked the world crypto community by being the first nation in North America to endorse spot XRP exchange-traded funds. On June 18, 2025, Purpose Investments and 3iQ received approval from the Ontario Securities Commission, a news that rocked the industry.
Purpose Investments launched the Purpose XRP ETF, which managed to be the first to launch trading on the Toronto Stock Exchange with three tickers. AXRPP is the CAD-hedged variant, AXRPP.B a CAD unhedged variant, and AXRPP.U to investors (in USD). You can also hold these ETFs in Canadian tax-favored accounts such as an RRSP and TFSA.
As per Brett’s announcement on X, which is already being corroborated by authoritative sources, such a move brings about a sanitized avenue to investing in XRP. Purpose’s Chief Innovation Officer, Vlad Tasevski, pointed out investors’ interest in accessing XRP without a requirement of holding it directly.
Simultaneously, 3iQ created its product, the 3iQ XRP ETF, with the trading symbol XRPQ. The fund launched with the move of a free first six months. The secret insider has also said that Ripple invested in the fund early on and thus has expressed support, and the institution could eventually have an associated impetus.
The move makes Canada a market leader in implementing regulated digital asset use in North America. Traditional brokerage exchanges have opened to give investors a clear, regulated path to obtain exposure to XRP.
Canada Pulls Ahead of the U.S. in Regulated XRP Market Access
Although Brazil became the first country in the world to issue a spot XRP ETF in April 2025 in the form of XRPH11, the Canadian one is particularly fundamental because it will affect the North American markets. Brazil adopted the fund, which was designed together with Hashdex and Genial Investimentos, and it has been traded successfully on the B3 stock exchange.
For many years, Europe has had the opportunity to invest in exchange-traded products that XRP backs. These are traded on regulated exchanges like SIX Swiss Exchange, Euronext, and Xetra, where institutions can secure access to XRP in fully collateralized securities.
Meanwhile, the United States is lagging. Although the SEC has received applications for spot XRP ETFs from major asset managers like Grayscale or Bitwise, it has not approved any XRP-based spot ETFs to date; U.S. investors are, therefore, limited to indirect alternatives like futures-based or leveraged products.
The crypto industry is awakening to a shock following Canada’s approval of spot XRP enhancement funds as the pioneer in supervised digital asset services. Trading is now live, and Canadian investors have whole new access; the U.S., on the other hand, is still behind the curve.
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