Purpose Investments, a prominent Canadian asset management firm, recently revealed plans to introduce the first-ever XRP exchange-traded fund (ETF). The firm has filed a preliminary prospectus for a spot XRP ETF, positioning itself to potentially lead the market in XRP investment products ahead of many U.S. competitors. This development is particularly significant as Purpose Investments previously achieved a milestone by launching North America’s inaugural Bitcoin ETF in 2021. Should the regulatory authorities grant approval for this new ETF, it is expected to create an accessible route for investors to engage with the XRP asset ecosystem without the necessity of holding XRP directly. The success of this ETF could pave the way for further institutional adoption and diversification within the thriving cryptocurrency sector.
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