Purpose Investments Unveils Plans for Canada’s First Ripple ETF

On January 31, COINOTAG News reported that Purpose Investments, a leading asset management firm, has officially filed a preliminary prospectus with the Canadian securities regulatory authority. This filing marks a significant step towards the potential launch of the Purpose Ripple ETF, which would be the first of its kind in Canada. The proposal aims to provide investors with a structured way to gain exposure to Ripple’s digital asset, known as XRP, through a regulated investment vehicle. This move showcases Purpose Investments’ commitment to expanding its offerings in the cryptocurrency domain, catering to institutional and retail investors alike. With the growing interest in cryptocurrency-based investment products, the launch of the Purpose Ripple ETF could set a precedent for future crypto ETFs within the region, prompting further regulatory evaluations and potential approvals.